Annual Report 2012 - HKExnews

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Notes to the Consolidated Financial Statements (Continued) 9 Finance Costs 2012 2011 HK$ HK$ Interest expense — Finance lease liabilities wholly repayable within 5 years 43,624 57,527 — Licence fee liabilities wholly repayable within 5 years 13,824 105,725 57,448 163,252 10 Income Tax (Credit)/Expenses 2012 2011 HK$ HK$ Current income tax — — — Hong Kong profits tax — — — Singapore income tax — — Deferred income tax (Note 21) (385,567) 385,567 (385,567) 385,567 No provision for Hong Kong and Singapore profits tax has been made in these consolidated financial statements as the Group has no assessable profits for the year ended 31 December 2012 (2011: Tax losses brought forward from previous years exceed the estimated assessable profits). The profits tax rates for Hong Kong and Singapore are 16.5% (2011: 16.5%) and 17% (2011: 17%) respectively. The income tax on the Group’s (loss)/profit before income tax differs from the theoretical amount that would arise using the enacted tax rate of the home country of the companies comprising the Group as follows: 2012 2011 HK$ HK$ (Loss)/profit before income tax (27,713,371) 2,422,166 Tax calculated at domestic tax rates applicable to profits in the respective countries (4,611,275) 408,174 Income not subject to tax (153) (78) Expenses not deductible for tax purpose 908,732 874,302 Tax loss not recognised 3,317,129 — Utilisation of previously unrecognised tax losses — (896,831) Income tax expenses (385,567) 385,567 78 FOCUS MEDIA NETWORK LIMITED Annual Report 2012
Notes to the Consolidated Financial Statements (Continued) 11 Directors’ and Senior Executive’s Emoluments (a) Directors’ emoluments The emoluments of the directors of the Company for the year ended 31 December 2012 is set out below: Name of director Salaries, Fee allowances and benefits in kind Sales commission Bonuses Retirement benefit contributions Share options Total HK$ HK$ HK$ HK$ HK$ HK$ HK$ Executive Directors Wong Hong Gay Patrick Jonathan — 1,950,000 — — 13,500 43,761 2,007,261 Ngan Toi Yuk — 823,557 — — 13,500 341,852 1,178,909 Tam Kai Kwong Eric — 811,489 — — 13,500 207,711 1,032,700 Lee Sze Leong — 777,290 — — 13,500 192,807 983,597 Non-executive Directors Chan Tsze Wah 50,000 — — — — 43,761 93,761 Independent non-executive Directors Rosenkranz Eric Jon 240,000 20,000 — — — 43,761 303,761 Lien Jown Jing Vincent 240,000 20,000 — — — 43,761 303,761 Chan Chi Keung Alan 240,000 — — — — 43,761 283,761 770,000 4,402,336 — — 54,000 961,175 6,187,511 The emoluments of the directors of the Company for the year ended 31 December 2011 is set out below: Name of director Salaries, Fee allowances and benefits in kind Bonuses Retirement benefit contributions Share options Total HK$ HK$ HK$ HK$ HK$ HK$ Executive Directors Wong Hong Gay Patrick Jonathan — 1 243,750 — 1,171 244,922 Ngan Toi Yuk — 722,059 90,675 12,000 767,124 1,591,858 Tam Kai Kwong Eric — 751,680 93,690 12,000 422,445 1,279,815 Lee Sze Leong — 720,000 90,000 12,000 384,148 1,206,148 Non-executive Directors Chan Tsze Wah 21,381 — — — 1,171 22,552 Independent non-executive Directors Rosenkranz Eric Jon 102,630 8,603 — — 1,171 112,404 Lien Jown Jing Vincent 102,630 8,603 — — 1,171 112,404 Chan Chi Keung Alan 102,630 — — — 1,171 103,801 329,271 2,210,946 518,115 36,000 1,579,572 4,673,904 FOCUS MEDIA NETWORK LIMITED Annual Report 2012 79
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Characteristics of the Growth Enter
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Corporate Information Board of Dire
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Chairman’s Statement (Continued)
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Chairman’s Statement (Continued)
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Financial Highlights & Summary Fina
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Management Discussion and Analysis
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Comparison Between Future Plans and
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Use of Proceeds The Company was inc
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Directors and Senior Management Pro
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Annual Report 2012 - HKExnews

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