130 Consolidated Statement of Cash Flows For the year ended 31 December 2023 2023 2022 Notes US$’000 US$’000 Cash flows from operating activities Profit before tax 394,238 815,125 Adjustments for: Amortisation of other intangible assets 6 31,293 30,261 Changes in carrying value of financial assets at fair value through profit or loss 5 (1,159) (8,040) Changes in fair value of financial derivative assets 5 4,146 (6,191) Depreciation of property, plant and equipment 6 6,350 5,589 Depreciation of right-of-use assets 6 12,700 12,013 Dilution gain of interests in investment in an associate 5 (4,105) — Dividend income 5 (84,279) (136,858) Fair value losses/(gains) on assets held for sale 5 4,667 (5,391) Fair value losses/(gains) on completed investment properties 5 1,787 (63,167) Fair value gains on investment properties under construction 5 (189,509) (132,264) Finance costs 7 312,901 222,415 (Gain)/loss on disposal of interests in financial assets at fair value through profit or loss 5 (2,145) 883 Gain on disposal of assets held for sale 5 (1,378) — Gain on disposal of investment properties 5 (18,658) (50,623) Gain on disposal of other assets 5 — (2,291) Gain on disposal of subsidiaries 5 (24,072) (48,659) Gain on early redemption of convertible bonds 5 (17,181) — Impairment of goodwill 6 13,571 — Impairment of investments in joint ventures and associates 6 5,172 — Impairment of other intangible assets 20 15,596 541 Impairment of trade receivables and other receivables and bad debt written off 774 15,017 Interest income 5 (32,885) (16,867) Loss/(gain) on disposal of interests in joint ventures and associates 5 1,188 (11,116) Loss on disposal of items of property, plant and equipment 6 234 1,115 Management fee received/receivable in units (54,590) (68,051) Other income (1,332) (16,640) Reversal of impairment loss on other intangible assets (344) — Share-based compensation expense 6 19,178 26,543 Share of profits and losses of joint ventures and associates, net 20,369 (226,716) 412,527 336,628 Increase in trade receivables (182,694) (156,608) Increase in prepayments, other receivables and other assets (33,792) (71,952) Increase in trade payables, accruals and other payables 28,458 72,473 Cash flows generated from operations 224,499 180,541 Income tax paid (84,909) (108,542) Dividend income received from financial assets at fair value through profit or loss 2,255 1,130 Disposal of financial assets at fair value through profit or loss 942 6,073 Net cash flows generated from operating activities 142,787 79,202 STRENGTH IN UNITY
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