For the year ended 30 June 2008
| MIG 30 June 2008 $’000 |
MIG 30 June 2007 $’000 |
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| Cash flows from operating activities | ||
| Toll revenue received | 151,761 | 219,694 |
| Interest received | 69,347 | 262,649 |
| Interest paid | - | (74,593) |
| Net indirect taxes received/(paid) | (11,454) | (13,547) |
| Payments to suppliers and employees (inclusive of GST) | (36,590) | (85,470) |
| Responsible Entity and Adviser base fees paid | (78,264) | (92,961) |
| Distributions and dividend income received | 347,490 | 258,465 |
| Income taxes paid | (9,497) | (4,869) |
| Other income received | 7,812 | 9,194 |
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| Net cash flows from operating activities | 440,605 | 478,562 |
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| Cash flows from investing activities | ||
| Proceeds from sale of assets to MIP, net of cash disposed | - | 661,261 |
| Proceeds from demerger of SRG, net of cash disposed | - | 27,913 |
| Proceeds from return of capital from investments | 10,411 | 10,658 |
| Payments for the purchase of investments | (27,485) | (34,648) |
| Capital expenditure | (14,487) | (104,347) |
| Proceeds from sale of property, plant and equipment | - | 339 |
| Loans (advanced to)/repaid by investments and controlled entities | - | (864) |
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| Net cash flows from investing activities | (31,561) | 560,312 |
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| Cash flows from financing activities | ||
| Repayment of bank borrowings | - | (2,036,820) |
| Proceeds from bank borrowings | 15,497 | 2,884,131 |
| Borrowing cost paid | (85,620) | (149,690) |
| Distributions paid to MIG security holders | (493,207) | (533,899) |
| DRP proceeds received | - | 147,785 |
| On market buy-back | (364,438) | (637,212) |
| Distributions paid to minority interests | (98,705) | (105,762) |
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| Net cash flows from financing activities | (1,026,473) | (431,467) |
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| Net (decrease)/increase in cash assets held | (617,429) | 607,407 |
| Cash and cash equivalents at the beginning of the year | 1,673,122 | 1,201,734 |
| Effect of exchange rate movements on cash and cash equivalents | (71,481) | (136,019) |
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| Cash and cash equivalent assets at the end of the year | 984,212 | 1,673,122 |
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The above consolidated balance sheet should be read in conjunction with the accompanying notes.