NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
95
Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
Notes to the financial statements
23 Dividends
The Group declared and paid dividends as follows:
Group
2015
2014
$’000
$’000
Final tax exempt one-tier dividend of $0.005 per ordinary
share proposed for financial year ended 31 December 2013 and paid in FY2014
–
3,550
Final tax exempt one-tier dividend of $0.005 per ordinary
share proposed for financial year ended 31 December 2014 and paid in FY2015
3,550
–
3,550
3,550
The Board recommended for the shareholders’ approval at the Annual General Meeting of the Company an
exempt (one-tier) final dividend of $2,130,000 (2014: $3,550,000) for the financial year ended 31 December
2015 of approximately $0.003 (2014: $0.005) per share. The exempt (one-tier) final dividend has not been
provided for in the financial statements.
24 Commitments
(a)
At reporting date, the Group have commitments for future minimum lease payments under non-
cancellable operating leases as follows:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Within 1 year
2,173
2,690
–
–
After 1 year but within 5 years
1,217
1,591
–
–
After 5 years
–
–
–
–
3,390
4,281
–
–
The Group leases its office premises, warehouses and shipyards under operating leases. The leases run
for periods of three to twenty-two years, with options to renew the leases upon expiry.
(b)
The Group entered into several contracts to purchase property, plant and equipment for $6,874,000
(2014: $9,740,000).
25 Contingent liabilities
There were contingent liabilities in respect of the following:
(a)
Immigration bond given to Ministry of Manpower by three of the subsidiaries within the Group in
respect of the employment of foreign workers amounting to $1,750,000 (2014: $3,000,000).
(b)
Guarantees given to suppliers, customers, port authorities and immigration authorities by one of the
entities within the Group in respect of services rendered amounted to $1,169,000 (2014: $1,100,000).
