|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
Reserve for own shares |
(a) |
(34,731) |
— |
(34,731) |
— |
Currency translation reserve |
(b) |
(121,650) |
(37,383) |
— |
— |
Other reserves |
(c) |
114,000 |
676,831 |
22,620 |
23,699 |
|
|
(42,381) |
639,448 |
(12,111) |
23,699 |
| a. |
Reserve for Own Shares
At December 31, 2008, the Company held 8,377,867 (2007: Nil) of its own uncancelled shares as treasury shares. |
| |
|
| b. |
Currency Translation Reserve
The currency translation reserve comprise:
| i. |
foreign exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from the presentation currency of the Group; |
| ii. |
exchange differences on monetary items which form part of the Group’s net investment in foreign operations; and |
| iii. |
gains or losses on instruments used to hedge the Company’s net investment in foreign operations that are determined to be effective hedges. |
|
| |
|
| c. |
Other Reserves |
|
Group
 |
Company
 |
|
Capital reserve |
Merger reserve |
Share-based payments reserve |
Fair value reserve |
Hedging reserve |
Total |
Share-based
payments
reserve |
|
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
At January 1, 2008 |
342,252 |
29,201 |
37,525 |
293,223 |
(25,370) |
676,831 |
23,699 |
Net fair value changes of available-for-sale financial assets, net of tax |
— |
— |
— |
(278,803) |
— |
(278,803) |
— |
Net fair value changes of available-for-sale financial assets transferred to the income statement, net of tax |
— |
— |
— |
(725) |
— |
(725) |
— |
Net fair value, changes of cash flow hedges transferred to the income statement |
— |
— |
— |
— |
(1,296) |
(1,296) |
— |
Net fair value changes of cash flow hedges, net of tax |
— |
— |
— |
— |
(148,431) |
(148,431) |
— |
Share of hedging reserve of associates and joint venture companies |
— |
— |
— |
— |
(89,022) |
(89,022) |
— |
Share-based payments |
— |
— |
18,134 |
— |
— |
18,134 |
11,008 |
Treasury shares transferred to employees |
— |
— |
(28,690) |
— |
— |
(28,690) |
(12,087) |
Treasury shares held by subsidiary |
(34,379) |
— |
— |
— |
— |
(34,379) |
— |
Realisation of reserve upon disposal of investments and changes in group structure |
7 |
— |
117 |
257 |
— |
381 |
— |
At December 31, 2008 |
307,880 |
29,201 |
27,086 |
13,952 |
(264,119) |
114,000 |
22,620 |
|
Group
|
Company
|
|
Capital reserve |
Merger reserve |
Share-based payments reserve |
Fair value reserve |
Hedging reserve |
Total |
Share-based
payments
reserve |
|
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
At January 1, 2007 |
345,907 |
29,201 |
18,907 |
120,919 |
(26,276) |
488,658 |
13,793 |
Net fair value changes of available-for-sale financial assets, net of tax |
— |
— |
— |
265,686 |
— |
265,686 |
— |
Net fair value changes of available-for-sale financial assets transferred to the income statement, net of tax |
— |
— |
— |
(90,652) |
— |
(90,652) |
— |
Net fair value changes of cash flow hedges, net of tax |
— |
— |
— |
— |
19,554 |
19,554 |
— |
Share of hedging reserve of associates and joint venture companies |
— |
— |
— |
— |
(18,648) |
(18,648) |
— |
Share-based payments |
— |
— |
18,725 |
— |
— |
18,725 |
9,906 |
Realisation of reserve upon disposal of investments and changes in group structure |
(3,655) |
— |
(107) |
(2,730) |
— |
(6,492) |
— |
At December 31, 2007 |
342,252 |
29,201 |
37,525 |
293,223 |
(25,370) |
676,831 |
23,699 |
Other reserves include:
| i. |
Capital reserve comprises capitalisation of accumulated profits for the issue of bonus shares, capital reserve (net of goodwill) on consolidation and equity accounting, capital redemption reserve and convertible loan stock reserve. |
| ii. |
Merger reserve represents the difference between the value of shares issued by the Company in exchange for the value of shares acquired in respect of the acquisition of subsidiaries accounted for under the pooling-of-interests method. |
| iii. |
Share-based payments reserve comprises the cumulative value of services received from employees recorded on grant of equity-settled share options, performance shares and performance based restricted stocks. The expense for service received is recognised over the performance period and / or vesting period. The amount in the share-based payments reserve is retained when the option is exercised or expires. |
| iv. |
Fair value reserve includes the cumulative net change in the fair value of available-for-sale investments until the investments are derecognised. |
| v. |
Hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. |
|
|
Leasehold and freehold land, buildings and wet berthage |
Improvements to premises |
Quays and dry docks |
Plant and machinery |
Marine vessels |
Tools and workshop equipment |
Furniture, fittings and office equipment |
Motor vehicles |
Capital work-in-progress |
Total |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
|
|
|
|
Group |
|
|
|
|
|
|
|
|
|
|
|
Cost / Valuation |
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2008 |
|
668,125 |
39,500 |
327,595 |
2,431,107 |
8,042 |
39,052 |
107,591 |
56,130 |
296,764 |
3,973,906 |
Translation adjustments |
|
(9,836) |
(589) |
— |
(174,904) |
— |
— |
(9) |
(711) |
(37,943) |
(223,992) |
Additions |
|
61,063 |
263 |
— |
53,018 |
7,814 |
1,916 |
8,769 |
3,775 |
225,087 |
361,705 |
Reclassification |
|
27,505 |
240 |
884 |
156,874 |
345 |
— |
2,392 |
160 |
(188,400) |
— |
Disposals / Write-offs |
|
(5,333) |
(262) |
— |
(100,098) |
(345) |
(1,356) |
(6,467) |
(2,661) |
(87) |
(116,609) |
Disposal of subsidiaries |
|
(14,045) |
— |
— |
(22,811) |
— |
— |
(140) |
(281) |
(3,827) |
(41,104) |
Balance at December 31, 2008 |
|
727,479 |
39,152 |
328,479 |
2,343,186 |
15,856 |
39,612 |
112,136 |
56,412 |
291,594 |
3,953,906 |
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated Depreciation and Impairment Losses |
|
|
|
|
|
|
|
|
|
Balance at January 1, 2008 |
|
231,858 |
19,427 |
131,989 |
822,694 |
7,354 |
28,664 |
87,132 |
43,079 |
— |
1,372,197 |
Translation adjustments |
|
(1,590) |
(301) |
2 |
(44,876) |
— |
14 |
89 |
(532) |
— |
(47,194) |
Depreciation for the year |
34(b) |
22,147 |
2,125 |
7,592 |
144,676 |
583 |
3,836 |
9,720 |
3,177 |
— |
193,856 |
Reclassification |
|
(2,752) |
90 |
53 |
1,220 |
185 |
— |
1,726 |
(522) |
— |
— |
Disposals / Write-offs |
|
(4,946) |
(65) |
— |
(37,263) |
(188) |
(1,341) |
(6,205) |
(2,571) |
— |
(52,579) |
Disposal of subsidiaries |
|
(3,629) |
— |
— |
(14,861) |
— |
— |
(84) |
(184) |
— |
(18,758) |
Allowance made for impairment – net |
34(b) |
— |
— |
— |
7,807 |
— |
— |
— |
— |
— |
7,807 |
Balance at December 31, 2008 |
|
241,088 |
21,276 |
139,636 |
879,397 |
7,934 |
31,173 |
92,378 |
42,447 |
— |
1,455,329 |
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Amount |
|
|
|
|
|
|
|
|
|
|
At December 31, 2008 |
|
486,391 |
17,876 |
188,843 |
1,463,789 |
7,922 |
8,439 |
19,758 |
13,965 |
291,594 |
2,498,577 |
|
|
Leasehold and freehold land, buildings and wet berthage |
Improvements to premises |
Quays
and dry docks |
Plant and machinery |
Marine vessels |
Tools and workshop equipment |
Furniture, fittings and office equipment |
Motor vehicles |
Capital work-in-progress |
Total |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
|
|
|
|
Group |
|
|
|
|
|
|
|
|
|
|
|
Cost / Valuation |
|
|
|
|
|
|
|
|
|
|
Balance at January 1, 2007 |
|
816,493 |
40,348 |
328,196 |
2,121,581 |
53,887 |
38,420 |
98,843 |
53,694 |
276,630 |
3,828,092 |
Reclassification to investment properties on adoption of FRS 40 |
7 |
(50,868) |
(728) |
— |
— |
— |
— |
— |
— |
— |
(51,596) |
Balance at January 1, 2007, restated |
|
765,625 |
39,620 |
328,196 |
2,121,581 |
53,887 |
38,420 |
98,843 |
53,694 |
276,630 |
3,776,496 |
Translation adjustment |
|
(5,506) |
120 |
(50) |
(29,765) |
— |
(235) |
(575) |
(134) |
(4,167) |
(40,312) |
Additions |
|
13,784 |
37 |
3 |
66,491 |
34 |
5,060 |
12,493 |
4,339 |
354,640 |
456,881 |
Reclassification |
|
35,148 |
— |
— |
292,878 |
223 |
(13) |
145 |
(38) |
(327,661) |
682 |
Disposals / Write-offs |
|
(6,595) |
(116) |
(554) |
(12,648) |
(46,102) |
(47) |
(3,022) |
(1,444) |
(2,678) |
(73,206) |
Acquisition of subsidiaries |
|
— |
— |
— |
— |
— |
— |
17 |
— |
— |
17 |
Disposal of subsidiaries |
|
(134,331) |
(161) |
— |
(7,430) |
— |
(4,133) |
(310) |
(287) |
— |
(146,652) |
Balance at December 31, 2007 |
|
668,125 |
39,500 |
327,595 |
2,431,107 |
8,042 |
39,052 |
107,591 |
56,130 |
296,764 |
3,973,906 |
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated Depreciation and Impairment Losses |
|
|
|
|
|
|
|
|
|
Balance at January 1, 2007 |
|
271,375 |
17,554 |
125,225 |
711,366 |
9,880 |
28,378 |
82,378 |
41,661 |
5,770 |
1,293,587 |
Reclassification to investment properties on adoption of FRS 40 |
7 |
(15,526) |
(682) |
— |
— |
— |
— |
— |
— |
— |
(16,208) |
Balance at January 1, 2007, restated |
|
255,849 |
16,872 |
125,225 |
711,366 |
9,880 |
28,378 |
82,378 |
41,661 |
5,770 |
1,277,379 |
Translation adjustments |
|
(1,011) |
41 |
(7) |
(7,379) |
— |
(100) |
(334) |
(101) |
(16) |
(8,907) |
Depreciation for the year |
34(b) |
20,742 |
2,685 |
7,267 |
132,293 |
2,434 |
3,435 |
8,465 |
2,785 |
— |
180,106 |
Reclassification |
|
— |
— |
— |
3,950 |
— |
— |
— |
— |
(3,950) |
— |
Disposals / Write-offs |
|
(8,069) |
(104) |
(496) |
(13,059) |
(4,960) |
(39) |
(3,077) |
(1,138) |
(1,804) |
(32,746) |
Disposal of subsidiaries |
|
(35,653) |
(67) |
— |
(4,698) |
— |
(3,010) |
(298) |
(128) |
— |
(43,854) |
Allowance made / (reversed) for impairment – net |
34(b) |
— |
— |
— |
221 |
— |
— |
(2) |
— |
— |
219 |
Balance at December 31, 2007 |
|
231,858 |
19,427 |
131,989 |
822,694 |
7,354 |
28,664 |
87,132 |
43,079 |
— |
1,372,197 |
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Amount |
|
|
|
|
|
|
|
|
|
|
At December 31, 2007 |
|
436,267 |
20,073 |
195,606 |
1,608,413 |
688 |
10,388 |
20,459 |
13,051 |
296,764 |
2,601,709 |
|
|
|
|
|
