NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
91
Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
Notes to the financial statements
19 (Loss)/Profit before tax
The following items have been included in arriving at (loss)/profit before income tax:
Group
2015
2014
$’000
$’000
Operating lease expenses
2,453
1,813
Operating lease income
(519)
(619)
Staff costs
11,699
10,716
Contributions to defined contribution plans included in
staff costs
1,304
1,075
Impairment loss on trade receivables
3,104
3,748
Reversal of allowance for inventory obsolescence
(2)
(246)
Depreciation of property, plant and equipment
4,457
4,031
Audit fees paid/payable to auditors
300
300
Non-audit fees paid/payable to auditors
88
36
Directors’ fees
265
265
Exchange gain (net)
(879)
(561)
20 Tax expense
Group
Note 2015
2014
$’000
$’000
Current tax expense
Current year
–
902
Under/(Over) provision in prior years
166
(676)
166
226
Deferred tax expense/(credit)
Movements in temporary differences
13
46
(29)
Total tax expense
212
197
Reconciliation of effective rate
(Loss)/Profit before income tax
(4,722)
5,814
Tax using the Singapore tax rate of 2015: 17%
(2014: 17%)
(803)
988
Income not subject to tax
(137)
(128)
Non-deductible expenses
404
109
Utilisation of previously unrecognised deferred tax assets
(182)
–
Current year tax losses and allowances not recognised as deferred tax
assets
588
–
Under/(Over) provision in prior years
166
(676)
Others
176
(96)
212
197
