| |
|
| |
| |
|
|
Group |
Company |
|
|
2009 |
2008 |
2009 |
2008 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
Reserve for own shares |
(a) |
(21,236) |
(34,731) |
(21,236) |
(34,731) |
Currency translation reserve |
(b) |
(120,110) |
(121,650) |
— |
— |
Other reserves |
(c) |
344,915 |
114,000 |
20,405 |
22,620 |
|
|
203,569 |
(42,381) |
(831) |
(12,111) |
|
| |
| a. |
Reserve for Own Shares
At December 31, 2009, the Company held 5,122,674 (2008: 8,377,867) of its own uncancelled shares as treasury shares. |
| |
|
| b. |
Currency Translation Reserve
The currency translation reserve comprises:
| 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$’000 |
|
|
|
|
|
|
|
|
At January 1, 2009 |
307,880 |
29,201 |
27,086 |
13,952 |
(264,119) |
114,000 |
22,620 |
Share-based payments |
— |
— |
17,753 |
— |
— |
17,573 |
7,502 |
Treasury shares transferred to employees |
— |
— |
(9,667) |
— |
— |
(9,667) |
(9,717) |
Treasury shares held by a subsidiary |
18,638 |
— |
(12,231) |
— |
— |
6,407 |
— |
Realisation of reserve upon disposal of investments and changes in group structure |
(421) |
— |
(85) |
— |
— |
(506) |
— |
Net changes in fair value of cash flow hedges |
— |
— |
— |
— |
102,300 |
102,300 |
— |
Net change in fair value of cash flow hedges transferred to profit or loss |
— |
— |
— |
— |
18,323 |
18,323 |
— |
Net change in fair value of cash flow hedges transferred to initial carrying value of hedged items |
— |
— |
— |
— |
(22) |
(22) |
— |
Net change in fair value of available-for-sale financial assets |
— |
— |
— |
12,042 |
— |
12,042 |
— |
Net change in fair value of available-for-sale financial assets transferred to profit or loss |
— |
— |
— |
8,657 |
— |
8,657 |
— |
Transfer of revenue reserve to capital reserve |
6,891 |
— |
— |
— |
— |
6,891 |
— |
Share of other comprehensive income of associates and joint ventures |
— |
— |
— |
— |
68,917 |
68,917 |
— |
At December 31, 2009 |
332,988 |
29,201 |
22,676 |
34,651 |
(74,601) |
344,915 |
20,405 |
|
| |
|
Group
|
Company
|
|
Capital reserve |
Merger reserve |
Share-based payments reserve |
Fair value reserve |
Hedging reserve |
Total |
Share-based
payments
reserve |
|
S$’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 |
Share-based payments |
— |
— |
18,134 |
— |
— |
18,134 |
11,008 |
Treasury shares transferred to employees |
— |
— |
(12,087) |
— |
— |
(12,087) |
(12,087) |
Treasury shares held by subsidiary |
(34,379) |
— |
(16,603) |
— |
— |
(50,982) |
— |
Realisation of reserve upon disposal of investments and changes in group structure |
7 |
— |
117 |
257 |
— |
381 |
— |
Net change in fair value of cash flow hedges |
— |
— |
— |
— |
(136,496) |
(136,496) |
— |
Net change in fair value of cash flow hedges transferred to profit or loss |
— |
— |
— |
— |
(13,231) |
(13,231) |
— |
Net change in fair value of available-for-sale financial assets |
— |
— |
— |
(278,803) |
— |
(278,803) |
— |
Net change in fair value of available-for-sale financial assets transferred to profit or loss |
— |
— |
— |
(725) |
— |
(725) |
— |
Share of other comprehensive loss of associates and joint ventures |
— |
— |
— |
— |
(89,022) |
(89,022) |
— |
At December 31, 2008 |
307,880 |
29,201 |
27,086 |
13,952 |
(264,119) |
114,000 |
22,620 |
|
| |
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, convertible loan stock
reserve and transfer from revenue reserve in accordance with the regulations of the foreign jurisdiction in
which the Group’s subsidiaries, associates and joint ventures operate. |
| 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-interest
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, 2009 |
|
727,479 |
39,152 |
328,479 |
2,343,186 |
15,856 |
39,612 |
112,136 |
56,412 |
291,594 |
3,953,906 |
Translation adjustments |
|
(1,875) |
(4) |
(8) |
33,367 |
— |
(18) |
(241) |
92 |
295 |
31,608 |
Additions |
|
13,490 |
193 |
26 |
38,068 |
414 |
2,121 |
5,704 |
4,923 |
342,484 |
407,423 |
Reclassification |
|
54,702 |
8 |
1,369 |
235,397 |
— |
144 |
3,931 |
433 |
(295,984) |
— |
Transfer to investment properties |
7 |
(1,450) |
— |
— |
— |
— |
— |
(3) |
— |
— |
(1,453) |
Transfer to assets held for sale |
21 |
(731) |
— |
— |
— |
— |
— |
— |
— |
— |
(731) |
Disposals / Write-offs |
|
(4,259) |
(380) |
(72) |
(35,251) |
(51) |
(5,477) |
(9,194) |
(7,201) |
(2,008) |
(63,893) |
Disposal of subsidiaries |
|
— |
— |
— |
— |
— |
(148) |
(16) |
(260) |
— |
(424) |
Balance at December 31, 2009 |
|
787,356 |
38,969 |
329,794 |
2,614,767 |
16,219 |
36,234 |
112,317 |
54,399 |
336,381 |
4,326,436 |
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated Depreciation and Impairment Losses |
|
|
|
|
|
|
|
|
|
Balance at January 1, 2009 |
|
241,088 |
21,276 |
139,636 |
879,397 |
7,934 |
31,173 |
92,378 |
42,447 |
— |
1,455,329 |
Translation adjustments |
|
(708) |
(1) |
(4) |
7,332 |
— |
(18) |
(307) |
83 |
(132) |
6,245 |
Depreciation for the year |
35(b) |
28,800 |
1,726 |
8,717 |
140,659 |
760 |
3,550 |
9,844 |
4,448 |
— |
198,504 |
Reclassification |
|
(20) |
1 |
686 |
1,640 |
— |
(1,390) |
68 |
(985) |
— |
— |
Transfer to investment properties |
7 |
(639) |
— |
— |
— |
— |
— |
(3) |
— |
— |
(642) |
Transfer to assets held for sale |
21 |
(134) |
— |
— |
— |
— |
— |
— |
— |
— |
(134) |
Disposals / Write-offs |
|
(1,528) |
(263) |
(71) |
(21,363) |
(20) |
(4,434) |
(8,608) |
(4,382) |
— |
(40,669) |
Disposal of subsidiaries |
|
— |
— |
— |
— |
— |
(84) |
(8) |
(81) |
— |
(173) |
Allowance made for impairment – net |
35(b) |
5,650 |
226 |
— |
5,002 |
— |
— |
21 |
(3) |
3,004 |
13,900 |
Balance at December 31, 2009 |
|
272,509 |
22,965 |
148,964 |
1,012,667 |
8,674 |
28,797 |
93,385 |
41,527 |
2,872 |
1,632,360 |
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Amount |
|
|
|
|
|
|
|
|
|
|
At December 31, 2009 |
514,847 |
16,004 |
180,830 |
1,602,100 |
7,545 |
7,437 |
18,932 |
12,872 |
333,509 |
2,694,076 |
|
| |
|
|
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 |
35(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 |
35(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 |
|
|
| |
|
| |
|
|
|
|
|
