Rex International Holding Limited 1 7 3 Group Note 2024 2023 US$’000 US$’000 Cash flows from investing activities Interest received 4,582 2,732 Exploration and evaluation expenditure 3 (17,027) (14,268) Additions to oil and gas properties 4 (95,886) (53,151) Acquisition of oil and gas licences, net of cash acquired 4 17,726 – Purchase of quoted investments – (18,080) Proceeds from disposal of quoted investments 6,147 23,486 Purchase of derivative financial instruments (630) – Purchase of patents 5 (15) (38) Purchase of property, plant and equipment 6 (221) (247) Proceeds from sale of property, plant and equipment – 5 Investment in an associate 9 – (1,000) Proceeds from disposal of jointly controlled entity 9, 31(ii) 1,095 – Acquisition of non-controlling interests in a subsidiary, net of cash acquired 31(iii) – (816) Acquisition of a subsidiary, net of cash acquired 31(iv) – (1,660) Disposal of a subsidiary, net of cash disposed 31(i) (775) – Net cash used in investing activities (85,004) (63,037) Cash flows from financing activities Dividends paid to owners of the Company 17 – (4,844) Interest paid (17,828) (20,148) Payment for transaction costs related to loans and borrowings (3,753) (981) Proceeds from issuance of bonds by a subsidiary 19 149,751 30,047 Repayment of bonds 19 (97,411) (17,431) (Repayment of)/ Proceeds from bank overdraft 19 (4,000) 4,000 Repayment of lease liabilities 19, 21 (758) (799) Contributions from non-controlling interests in a subsidiary 616 – Net cash from/ (used in) financing activities 26,617 (10,156) Net increase/ (decrease) in cash and cash equivalents 26,112 (21,183) Cash and cash equivalents at beginning of the year 86,394 106,377 Effect of exchange rate fluctuations on cash held (3,630) 1,200 Cash and cash equivalents at end of the year 15 108,876 86,394 The accompanying notes form an integral part of these financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS Year ended 31 December 2024
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