UOBKH/AR09 [web] - ChartNexus

More documents

Recommendations

Info

64 Notes To Financial Statements (continued) 31 December 2009 26 INCOME TAX EXPENSE Income tax recognised in profit or loss The Group 2009 2008 $ $ Tax expense attributable to profit is made up of: Current income tax: – Singapore 15,195,690 14,309,146 – Foreign 4,076,452 2,791,316 19,272,142 17,100,462 Deferred income tax 300,150 (230,122) (Over) Under provision in prior years: 19,572,292 16,870,340 – current income tax (182,191) (1,821,141) – deferred tax (18,206) 86,126 19,371,895 15,135,325 Domestic income tax is calculated at 17% (2008 : 18%) of the estimated assessable profit for the year. Taxation for other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions. The total charge for the year can be reconciled to the accounting profit as follows: The Group 2009 2008 $ $ Profit before tax 134,635,072 124,651,780 Tax calculated at tax rate of 17% (2008 : 18%) Effects of: 22,887,962 22,437,320 – Singapore statutory stepped income exemption and tax rebate (105,148) (142,597) – Concessionary tax (609,218) (410,636) – Income not subject to tax (5,190,399) (7,827,218) – Expenses not deductible for tax purposes 1,522,711 2,571,049 – Utilisation of previously unrecognised tax losses – (1,156) – Tax benefits on tax losses and other temporary differences not recognised 156,062 – – Effects of different tax rates in other countries 668,687 233,291 – Deferred tax assets not recognised 241,635 10,287 – Overprovision in prior years (200,397) (1,735,015) 19,371,895 15,135,325 Income tax relating to each component of other comprehensive income. Deferred tax The Group 2009 2008 $ $ (Gains) losses of financial assets, available-for-sale (444,987) 332,269
27 COMPONENTS OF OTHER COMPREHENSIVE INCOME The Group 2009 2008 $ $ Other comprehensive income: Available-for-sale investments: Gains (losses) arising during the year 7,237,238 (15,807,909) Reclassification to profit or loss from equity on disposal of available-for-sale investments (6,251,349) (4,252,069) Deferred tax liability (444,987) 332,269 Exchange differences on translation of foreign operations (4,057,880) (3,917,600) Exchange differences on statutory reserves 23,316 (46,635) Other comprehensive income for the year, net of tax (3,493,662) (23,691,944) 28 EARNINGS PER SHARE The calculation of basic and diluted earnings per share attributable to ordinary owners of the Company is based on the following data: 2009 2008 Earnings for the purposes of basic earnings per share (profit for the year attributable to owners of the Company) $114,385,469 $108,744,804 Weighted average number of ordinary shares for the purposes of basic earnings per share 724,709,009 724,709,009 Basic earnings per share 15.78 cents 15.01 cents Diluted earnings per share is equal to basic earnings per share as there are no potential dilutive ordinary shares. 29 DIVIDENDS The Group and The Company 2009 2008 $ $ One-tier tax-exempt interim dividend in respect of the year ended 31 December 2009 of 0.5 cents per ordinary share paid (31 December 2008 : 0.5 cents per ordinary share paid) 3,623,544 3,623,544 One-tier tax-exempt final dividend in respect of the year ended 31 December 2008 of 7.0 cents per ordinary share paid (31 December 2007 : 11.89 cents per ordinary share paid) 50,729,632 86,167,901 54,353,176 89,791,445 At the Annual General Meeting on 28 April 2010, a one-tier tax-exempt final dividend of 7.5 cents per ordinary share amounting to a total of $54,353,176 will be recommended. These financial statements do not reflect this dividend, which will be accounted for in the shareholders’ equity as an appropriation of retained earnings in the financial year ending 31 December 2010. 30 CONTINGENT LIABILITIES (a) Obligations by virtue of a subsidiary being a clearing member of Singapore Exchange Securities Trading Limited (“SGX-ST”) – secured At the end of the reporting period, there were contingent liabilities of $3,273,539 (2008 : $1,176,850) in respect of the obligations of a subsidiary to The Central Depository (Pte) Limited (“CDP”) by virtue of the subsidiary being a clearing member of the SGX-ST. The contingent liabilities are secured against deposits amounting to $1,635,394 (2008 : $1,173,030) placed by the subsidiary with CDP. (b) At the end of the reporting period, there were contingent liabilities of $Nil (2008 : $10,076,500) in respect of a request by the Company to a related party bank to issue a guarantee to The Indonesian Stock Exchange (“IDX”) in respect of the obligations of a subsidiary, by virtue of it being a clearing member of the IDX. 65
Page 1:
UOB-Kay Hian Holdings Limited your
Page 4 and 5:
2 Corporate Information Board of Di
Page 6 and 7:
4 UOB-Kay Hian Holdings (continued)
Page 8 and 9:
6 Group Group Group Group For the Y
Page 10 and 11:
8 Chairman’s Statement Stock mark
Page 12 and 13:
10 Economic Review & Outlook 2010 (
Page 14 and 15:
12 Economic Review & Outlook 2010 (
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
Page 26 and 27: 24 In the opinion of the directors,
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
show all

UOBKH/AR09 [web] - ChartNexus

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?