UOBKH/AR09 [web] - ChartNexus

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66 Notes To Financial Statements (continued) 31 December 2009 31 COMMITMENTS (a) Operating lease commitments The Group as lessee The future aggregate minimum lease payments under non-cancellable operating leases contracted for at the end of the reporting period but not recognised as liabilities, are as follows: The Group 2009 2008 $ $ Within one year 3,273,602 19,059,139 In the second to fifth years inclusive 640,246 3,208,856 3,913,848 22,267,995 Operating lease payments represent rentals payable by the Group for certain of its office properties. Leases are negotiated for an average term of 3 years (2008 : 3 years) and rentals are fixed for an average of 3 years (2008 : 3 years). The Group as lessor The Group rents out its property in Singapore under operating leases. There was no property rental income earned during the year. The property is managed and maintained by a property manager at an annual cost of $143,723 (2008 : $Nil). At the end of the reporting year, the Group has contracted with tenants for the following future minimum lease payments: 2009 2008 $ $ Within one year 535,536 – In the second to fifth years inclusive 2,142,144 – After five years 4,596,684 – 7,274,364 – (b) Financial guarantees The Company has issued corporate guarantees to banks for borrowings of its subsidiaries. These guarantees are financial guarantees as they require the Company to reimburse the banks if the subsidiaries fail to make principal or interest payments when due in accordance with the terms of their borrowings. As at 31 December 2009, the commitment drawn under corporate guarantees is $105,859,253 (2008 : $253,990,095). (c) Capital commitments Capital expenditures contracted for at the end of the reporting period but not recognised in the financial statements are as follows: The Group 2009 2008 $ $ Property, plant and equipment – 24,957,179
32 SEGMENT INFORMATION The Group is organised on a geographical basis, namely Singapore, Hong Kong and other countries. The Group provides securities and futures broking and other related services. There is no single external customer that contributes more than 10% of the consolidated revenue. The information below are also reported to the Group’s chief operating decision maker for the purposes of resource allocation and assessment of segment performance. Based on reportable segments: Singapore Hong Kong Others Elimination Total $ $ $ $ $ The Group 2009 Revenue – External sales 261,819,090 73,921,192 23,420,079 – 359,160,361 – Interest income 19,763,456 16,561,029 4,753,305 – 41,077,790 – Inter-segment sales 10,211,772 (763,210) 10,034,412 (19,482,974) – 291,794,318 89,719,011 38,207,796 (19,482,974) 400,238,151 Segment results 99,486,541 26,393,277 8,311,366 443,888 134,635,072 Profit before tax 134,635,072 Income tax expense (19,371,895) Profit after tax 115,263,177 Segment assets 1,975,495,163 693,573,357 172,697,948 (304,066,565) 2,537,699,903 Associates 96,958 Deferred tax asset 225,730 Consolidated total assets 2,538,022,591 Segment liabilities 1,135,440,337 444,135,259 68,221,510 (157,507,073) 1,490,290,033 Income tax payable 19,821,679 Deferred tax liabilities 1,075,519 Consolidated total liabilities 1,511,187,231 Other segment items Capital expenditure 34,623,184 229,438 1,871,816 – 36,724,438 Impairment losses recognised in profit or loss 1,447,000 – (20,682) – 1,426,318 Depreciation expense 2,117,924 349,623 818,515 – 3,286,062 Finance expense 2,810,822 1,402,622 1,172,253 – 5,385,697 2008 Revenue – External sales 201,086,690 79,970,501 20,654,517 – 301,711,708 – Interest income 31,178,096 32,091,249 6,777,632 – 70,046,977 – Inter-segment sales 11,450,855 195,764 9,048,874 (20,695,493) – 243,715,641 112,257,514 36,481,023 (20,695,493) 371,758,685 Segment results 81,812,804 36,641,216 8,429,442 (2,231,682) 124,651,780 Profit before tax 124,651,780 Income tax expense (15,135,325) Profit after tax 109,516,455 67
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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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12 Economic Review & Outlook 2010 (
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14 Corporate Governance Report (con
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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
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