Full Report - Fraser and Neave Limited

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NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2006 2. ACCOUNTING POLICIES (cont’d) 2.28 Significant Accounting Estimates and Judgements (cont’d) 3. REVENUE (b) Critical Judgements made in Applying Accounting Policies Management is of the opinion that the instances of application of judgement are not expected to have a significant effect on the amounts recognised in the financial statements, apart from those involving estimates. (a) Sale of Goods Sale of goods represents the invoiced value of goods delivered and services rendered (including excise but excluding container deposits, trade discounts, and Goods and Services Tax) and rental income. Revenue on properties developed for sale represents the proportion of sales proceeds of the actual floor area sold based on the percentage of completion method. The revenue of associated companies and intra-group transactions are excluded. (b) Other Revenue Other revenue represents service fee, management fee and technical fee income. 110 Fraser and Neave, Limited & Subsidiary Companies Annual Report 2006
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2006 4. PROFIT BEFORE TAXATION AND EXCEPTIONAL ITEMS THE GROUP THE COMPANY 2006 2005 2006 2005 ($’000) ($’000) ($’000) ($’000) (Restated) (Restated) Profit before taxation and exceptional items have been arrived at after charging: Depreciation of fixed assets 112,071 108,592 – – Depreciation of investment properties 4,788 2,229 – – Impairment of fixed assets 2,885 361 – – Impairment of properties under development 12,830 – – – Amortisation of properties under development 2,889 105 – – Amortisation of brands 661 1,658 169 1,167 Amortisation of intangibles 4,901 4,329 – – Intangible assets written off – 1,870 – – Provision for/(Write back of) doubtful trade debts and bad debts 3,122 (77) – – Provision for inventory obsolescence 9,223 11,176 – – Provision for employee benefits Directors of the Company: 3,456 2,705 – – Fee 1,080 641 803 436 Remuneration of members of Board committees 241 204 241 204 Remuneration of executive directors Central Provident Fund contribution for 4,985 5,057 – – executive directors 15 19 – – Consultancy fees 1,243 – – – Retirement gratuity of an executive director – 3,000 – – Ex-gratia payment of an executive director 1,000 – – – Share-based payments Key executive officers: 1,566 921 – – Remuneration 4,785 3,886 – – Provident Fund contribution 136 143 – – Share-based payments 712 312 – – Staff costs (exclude directors and key executives) Defined contribution plans (exclude directors and 315,021 296,910 – – key executives) Share-based payments (exclude directors and 18,810 21,691 – – key executives) Auditors’ remuneration: 7,884 2,972 1,698 930 Auditor of the company 1,218 1,086 158 158 Other auditors Professional fees paid to: 2,399 2,124 2 – Auditor of the company 161 116 – 7 Other auditors 543 600 – – Interest expense (see details) 83,663 61,043 39,192 20,494 Exchange loss 4,845 13 177 – Loss on disposal of fixed assets Provision for foreseeable losses on properties 1,891 902 – – held for sale 7,753 16,517 – – Fair value loss on financial instruments 1,136 – 814 – and crediting: Interest income (see details) 23,312 20,104 1,547 605 Exchange gain – 7,093 – 72 Write back of provision for employee benefits 262 804 – – Reversal of impairment charge of fixed assets 1,320 234 – – Fair value gains on financial instruments 180 – – – Fraser and Neave, Limited & Subsidiary Companies Annual Report 2006 111
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Driving Value Fraser and Neave, Lim
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Driving Value Since its formation 1
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The strategy for growth based on th
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GROUP FINANCIAL HIGHLIGHTS Year end
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Driving Leadership Value Driving le
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I am very pleased to report that ou
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INTERVIEW WITH GROUP CHIEF EXECUTIV
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One of the challenges for F&N has b
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MR STEPHEN LEE Mr Lee was appointed
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Fraser and Neave, Limited Annual Re
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A household name to consumers in Si
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F&N’S THREE CORE BUSINESSES: FOOD
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Delivering Prime Value Delivering g
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Frasers Centrepoint Limited is a le
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Fraser and Neave, Limited Annual Re
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Times Printers is one of the larges
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Overview Listed on the Singapore Ex
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OPERATING AND FINANCIAL REVIEW Food
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Dairies: Revenue and PBIT ($ millio
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The Group’s glass plant operation
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FRASERS CENTREPOINT TRUST - BUILDIN
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Residential Properties: Fraser Suit
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Office and Industrial Occupancy at
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OPERATING AND FINANCIAL REVIEW Publ
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OPERATING AND FINANCIAL REVIEW Trea
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As many of the risks factors identi
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AWARDS AND ACCOLADES The Group rece
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Developing People Value Developing
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The Group is committed to be a resp
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INDEX TO CORPORATE GORVERNANCE AND
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Page 87 and 88: BALANCE SHEET as at 30 September 20
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Page 91 and 92: CASH FLOW STATEMENT for the year en
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NOTES TO THE FINANCIAL STATEMENTS f
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PARTICULARS OF GROUP PROPERTIES The
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PARTICULARS OF GROUP PROPERTIES (A)
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PARTICULARS OF GROUP PROPERTIES (B)
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PARTICULARS OF GROUP PROPERTIES (C)
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PARTICULARS OF GROUP PROPERTIES (D)
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FRASER AND NEAVE, LIMITED (Company
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8. “That approval be and is hereb
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This page has been intentionally le
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FRASER AND NEAVE, LIMITED (Company
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FINANCIAL CALENDAR 25 January 2007
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Full Report - Fraser and Neave Limited

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