UOBKH/AR09 [web] - ChartNexus

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62 Notes To Financial Statements (continued) 31 December 2009 21 RESERVES (a) Composition The Group 2009 2008 $ $ Fair value reserve 8,531,470 7,989,872 Foreign currency translation reserves (21,788,795) (18,015,316) Statutory reserve 1,403,932 1,351,767 (11,853,393) (8,673,677) (b) Fair value reserve The Group 2009 2008 $ $ At beginning of year 7,989,872 27,803,765 Fair value gains (losses) on financial assets, available-for-sale (Note 14) 7,237,238 (15,807,909) Deferred tax on fair value (gains) losses on financial assets, available-for-sale (Note 17) (444,987) 332,269 Minority interests – 66,310 14,782,123 12,394,435 Currency translation differences 696 (152,494) Fair value gains transferred to profit or loss on realisation (6,251,349) (4,252,069) At end of year 8,531,470 7,989,872 (c) Statutory reserve Under the Public Limited Company Act B.E. 2535 of Thailand, a subsidiary, UOB Kay Hian Securities (Thailand) Public Company Limited is required to set aside a statutory reserve of at least 5 percent of its net profit after accumulated deficit brought forward (if any) until the reserve is not less than 10 per cent of the registered capital. The reserve is non-distributable. 22 REVENUE The Group 2009 2008 $ $ Commission and trading income Interest income: 346,008,867 287,334,711 – fixed deposits with a related party (Note 5) 480,771 684,978 – fixed deposits with non-related banks 3,530,253 6,507,136 – clients 36,031,940 61,088,177 – others 1,034,826 1,766,686 41,077,790 70,046,977 Dividend income from quoted/unquoted securities 793,296 1,160,973 Facility, shares withdrawal and arrangement fees 5,561,159 9,731,892 Other operating revenue 6,797,039 3,484,132 400,238,151 371,758,685
23 STAFF COSTS The Group 2009 2008 $ $ Wages, salaries and other staff costs 97,536,307 102,616,283 Employers’ contribution to defined contribution plans including Central Provident Fund 1,881,762 3,857,711 99,418,069 106,473,994 24 FINANCE EXPENSE The Group 2009 2008 $ $ Interest expense: – bank borrowings from related parties (Note 5) 451,143 4,521,789 – borrowings from non-related banks 1,533,471 3,010,519 – others 3,401,083 6,311,590 5,385,697 13,843,898 25 OTHER OPERATING EXPENSES The Group 2009 2008 $ $ Net fair value (gain) losses on financial assets at fair value through profit or loss (4,182,511) 2,029,980 Operating lease expenses 25,283,417 13,769,687 Marketing and business promotions 4,805,428 6,983,421 Communication expenses 14,580,119 13,526,182 Contract processing charges 4,404,833 3,448,454 Information services 6,856,438 6,310,161 Depreciation expenses 3,286,062 2,474,145 Loss (Gain) on disposal of property, plant and equipment Non-audit fees: 90,243 (15,666) – paid to auditors of the Company 58,045 37,000 – paid to other auditors 49,905 73,365 Maintenance and rental of office equipment 2,649,913 1,752,370 Printing and stationery 1,406,603 1,383,581 Allowance for impairment in financial assets, available-for-sale 1,426,318 2,671,040 General administrative expenses 13,160,695 9,606,875 73,875,508 64,050,595 63
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UOB-Kay Hian Holdings Limited your
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2 Corporate Information Board of Di
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4 UOB-Kay Hian Holdings (continued)
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6 Group Group Group Group For the Y
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8 Chairman’s Statement Stock mark
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10 Economic Review & Outlook 2010 (
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Page 16 and 17: 14 Corporate Governance Report (con
Page 22 and 23: 20 Profile Of Directors & Key Manag
Page 24 and 25: 22 Report Of The Directors The dire
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Page 28 and 29: 26 ASSETS Statements Of Financial P
Page 30 and 31: 28 Group Statements Of Changes In E
Page 32 and 33: 30 Company Statements Of Changes In
Page 34 and 35: 32 Consolidated Statement Of Cash F
Page 36 and 37: 34 Notes To Financial Statements (c
Page 72 and 73: 70 Analysis Of Shareholdings as at
Page 74: 72 Notes A member entitled to atten
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UOBKH/AR09 [web] - ChartNexus

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