QUESTE COMMUNICATIONS LIMITED — Interim / Quarterly Report 2011

Jun 13, 2011

Queste Communications Ltd May 2011 and Controlled Entity

Monthly Cash Flow Report

May 2011 Monthly Cash Flow Report

Name of entity

QUESTE COMMUNICATIONS LTD and controlled entity

ACN or ARBN 081 688 164	Month Ended	Month Ended	Month Ended	Month Ended
	31 May 2011
Consolidated statement of cash flows Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes (paid)/refund 1.7 Other (provide details if material) Net operating cash flows	Company		Consolidated
	Current Month May 2011 $' 000	Year to Date 11 months $' 000	Current Month May 2011 $' 000	Year to Date 11 months $' 000
	- (54) - - - 21 - 19 - -	- (597) - - - 189 50 122 - -	41 (108) - - - (77) - 19 - -	418 (1,065) - - - (819) 463 128 (1) -
	(14)	(236)	(125)	(876)

Notes:

The Company currently has a 50.88% interest in ASX listed investment company, Orion Equities Limited ("OEQ").

OEQ is a controlled entity of the Company under the Accounting Standards.

Therefore , the Consolidated columns in this Monthl y Cash Flow Re p ort takes into account the cash flows of the Com p an y and its controlled entit y, including OEQ

Queste Communications Ltd (ABN 58 081 688 164)

Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9777 Email: info@queste.com.au Fax: (08) 9322 1515

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Monthly Cash Flow Report

Queste Communications Ltd and Controlled Entity

May 2011

	Company	Company	Consolidated	Consolidated
	Current Month May 2011 $' 000	Year to Date 11 months $' 000	Current Month May 2011 $' 000	Year to Date 11 months $' 000
1.8 Net operatingcash flows(carried forward)	(14)	(236)	(125)	(876)
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments ( ) i t ll t l t c n e ec ua proper y (d) physical non-current assets (e) other non-current assets 1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) intellectualproperty (d) physical non-current assets (e) other non-current assets 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other (provide details if material) N i i h fl et nvest ng cas ows 1.14Total operating and investing cash flows	- - - - - - - - - - - - -	- (388) - (2) - - 292 - - - (650) 250 -	- - - 30 - - - - - - - - -	- (1,178) - (410) - - - 1,293 - - - - - -
	-	(498)	30	(295)
	(14)	(734)	(95)	(1,171)
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1 17 P d f b i . rocee s rom orrow ngs 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Net financing cash flows	- - - - - -	- - - - - -	- - - - - -	- - - - - -
	-	-	-	-
Net increase (decrease) in cash held 1.21 Cash at beginning of month/year to date 1.22 Exchange rate adjustments to item 1.20 1.23Cash at end of month	(14) 1,467 -	(734) 2,187 -	(95) 1,585 -	(1,171) 2,661 -
	1,453	1,453	1,490	1,490

Queste Communications Ltd (ABN 58 081 688 164) Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9777 Email: info@queste.com.au Fax: (08) 9322 1515

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Queste Communications Ltd and Controlled Entity

Monthly Cash Flow Report

May 2011

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.24 Aggregate amount of payments to the parties included in item 1.2 1.25 Aggregate amount of loans to theparties included in item 1.11	Current Month May 2011 $' 000
	(53)
	-

• 1.26 Explanation necessary for an understanding of the transactions

Payments for Staff costs (in Item 1.2) includes:

• (1) $15,462 - Salaries and fees paid by the Company to Directors;

• (2) $37,462 - Salaries and fees paid by controlled entity, Orion Equities Limited (OEQ), to its Directors.

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

None .

• 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

None.

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

3.1 Loan facilities 3.2 Credit standbyarrangements	Amt available $' 000	Amount used $' 000
	-	-
	-	-

Queste Communications Ltd (ABN 58 081 688 164)

Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9777 Email: info@queste.com.au Fax: (08) 9322 1515

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Queste Communications Ltd and Controlled Entity

Monthly Cash Flow Report

May 2011

Reconciliation of cash	Company	Company	Consolidated	Consolidated
Reconciliation of cash at the end of the month (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows	Current Month $' 000	Previous Month $' 000	Current Month $' 000	Previous Month $' 000
4.1 Cash on hand and at bank 4.2 Deposits at call 4.3 Bank overdraft 4.4 Other(Bank Bills)	1,421	835	1,458	953
	32	632	32	632
	-	-	-	-
	-	-	-	-
Total:cash at end of month (item 1.22)	1,453	1,467	1,490	1,585
	- - - -

Acquisitions and disposals of business entities

5.1 Name of entity 5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business	(Item 1.9(a)) Acquisitions	Disposals (Item 1.10(a))
	-	-
	-	-
	-	-
	-	-
	-	-

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the C orpora ti ons L aw ( excep t t o th e ex en t t th a t i n orma f ti on i s no t requ re i d b ecause o f no e t 2) or o th er s an t d ar d s accep a t bl e t o ASX.

2 This statement does give a true and fair view of the matters disclosed.

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Date : 14 June 2011

Victor Ho Company Secretary

Notes:

The Company	currently holds the following listed share investments:	currently holds the following listed share investments:		31-May-11
		No Shares	% Interest	Last Bid Price	Market Value
Shares in Orion Equities Limited (OEQ)		9,063,153	50.88%	$0.320	$2,900,209
Shares (Other)					$407,729
					$3,307,938

The above investments are regarded as liquid assets to supplement the Company's cash reserves.

Queste Communications Ltd (ABN 58 081 688 164)

Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9777 Email: info@queste.com.au Fax: (08) 9322 1515

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