notes to the financial statements - Far East Orchard Limited

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NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2008 35. Related party transactions 78 The following transactions took place between the Group and related parties during the financial year: (a) Sale and purchase of goods and services In the ordinary course of business, the Group transacted with related parties, which relate to certain corporations in which the major shareholder of the holding company has substantial interests. These transactions are on terms agreed between the parties concerned. In addition to the related party information shown elsewhere in the financial statements, the following significant related party transactions took place between the Group and related parties during the financial year on terms agreed between the parties concerned: The Group 2008 2007 $’000 $’000 Amount billed (by)/to related parties: Management service, property management, accounting, computer support and other fees Property development, project management (3,532) (3,653) and sales and marketing service fees (960) - Management fees charged to a joint venture 383 - Rental income 1,897 1,228 Hospitality revenue - 105 Outstanding balances at 31 December 2008, arising from sale and purchase of goods and services, are set out in Notes 12 and 23 respectively. (b) Key management personnel compensation Key management personnel compensation is as follows: The Group 2008 2007 $’000 $’000 Wages and salaries 344 605 Employer’s contribution to defined contribution plans, including Central Provident Fund 19 39 Directors’ fees 310 310 673 954 Included in the above is total compensation to directors of the Company amounting to $315,000 (2007: $314,000). The banding of directors’ remuneration is disclosed in Note 7. ANNUAL REPORT 2008 ORCHARD PARADE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2008 36. Segment information (a) Primary reporting format - business segments Financial year ended 31 December 2008 Food and Beverage Property Property Investment and The Hospitality Development Investment Holding Other (1) Eliminations Group $’000 $’000 $’000 $’000 $’000 $’000 $’000 REVENUE - external sales 55,305 2,146 10,844 676 - - 68,971 - inter-segment revenue - - - - - - - 55,305 2,146 10,844 676 - - 68,971 Segment result (2) 34,242 (502) 23,581 (6,736) - (1,962) 48,623 Other income 104 Finance expense (15,334) Share of profit/(loss) of associated companies - 219 - - (2,277) - (2,058) Profit before income tax 31,335 Income tax expense (4,384) Total profit 26,951 Segment assets 703,460 159,038 169,724 9,706 - (74) 1,041,854 Associated companies - 3,592 - - 282,140 - 285,732 Unallocated assets 21,082 Consolidated total assets 1,348,668 Segment liabilities 7,116 9,551 2,374 6,216 - - 25,257 Unallocated liabilities 505,233 Consolidated total liabilities 530,490 Other segment items Capital expenditure 2,910 - - - - - 2,910 Depreciation 6,906 - 2 359 - - 7,267 Fair value gains on investment properties credited to income statement - net - - 15,818 - - - 15,818 (1) This relates to investment held in an associated company, Yeo Hiap Seng Limited. (2) Includes fair value gains on investment properties (Note 4). ORCHARD PARADE HOLDINGS LIMITED ANNUAL REPORT 2008 79
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Orchard Parade Holdings Limited Ann
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Corporate Information BOARD OF DIRE
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The Group sold 12 units of The Flor
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Profile of the Board of Directors &
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Organisation Chart as at 27 March 2
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Corporate Governance Statement as a
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DIRECTORS’ REPORT For the financi
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DIRECTORS’ REPORT For the financi
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INDEPENDENT AUDITOR’S REPORT TO T
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CONSOLIDATED INCOME STATEMENT For t
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notes to the financial statements - Far East Orchard Limited

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