Singapore Press Holdings annual report 2011 Singapore Press ...

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Notes to the Financial StatementS August 31, 2011 148 Singapore Press Holdings annual report 2011 25. OTHER OPERATING EXPENSES Group 2011 2010 S$’000 S$’000 Included in other operating expenses are: Audit fees - Company’s auditors 812 642 - Other auditors 85 68 Non-audit fees # - Company’s auditors 203 146 Rental expense – operating leases 9,055 8,332 Net foreign exchange loss/(gain) from operations 614 (195) Amortisation of intangible assets [Notes 15(b) and 15(c)] 5,712 2,502 Impairment of goodwill [Note 15(a)] 1,134 1,286 Allowance for impairment of trade receivables 1,586 2,306 Bad debts recovery (342) (244) Impairment of property, plant and equipment 1,513 2,442 Net profit on disposal of property, plant and equipment (199) (76) Investment property renovations and fittings written-off - 2,449 # Non-audit fees are mainly for services relating to non-statutory audit/review assignments. 26. FINANCE COSTS Group 2011 2010 S$’000 S$’000 Interest expense - Bank loans 3,574 6,063 - Fixed rate notes 16,860 8,453 - Loans from non-controlling interests 4,255 1,180 Cash flow hedges, transferred from hedging reserve [Note 5(b)]* 15,122 15,409 * In relation to interest rate swap arrangements in Note 7(g). 39,811 31,105
Notes to the Financial StatementS August 31, 2011 149 27. NET INCOME FROM INVESTMENTS Group 2011 2010 S$’000 S$’000 Available-for-sale financial assets Interest income 6,562 5,170 Dividend income 28,504 21,442 Net foreign exchange loss (717) (301) Transferred from fair value reserve on disposal of investments [Note 5(c)] 3,461 4,475 Impairment of investments (4,714) (78) 33,096 30,708 Financial assets at fair value through profit or loss Net fair value gain on internally-managed investments - Designated upon initial recognition 2,227 4,658 Net loss from funds under management - (28) Write-back of provision for loss on derivative financial instrument 5,168 - Net fair value gain on derivative financial instruments 14,403 6,397 21,798 11,027 Deposits with financial institutions Interest income 1,420 808 Net foreign exchange loss (5,963) (3,288) (4,543) (2,480) 50,351 39,255 28. DIVIDENDS Group and Company 2011 2010 S$’000 S$’000 Dividends paid: - Final tax-exempt dividend of 9 cents per share in respect of previous financial year (2010: 9 cents per share) 144,593 144,304 - Special final tax-exempt dividend of 11 cents per share in respect of previous financial year (2010: 9 cents per share) 176,725 144,303 - Interim tax-exempt dividend of 7 cents per share (2010: 7 cents per share) 112,621 112,386 433,939 400,993 (a) (b) The Directors have proposed a final tax-exempt (one-tier) dividend of 9 cents per share and a special final tax-exempt (one-tier) dividend of 8 cents per share for the financial year, amounting to a total of S$273.5 million. These financial statements do not reflect these proposed dividends, which will be accounted for in shareholders’ interests as an appropriation of retained profit in the financial year ending August 31, 2012 when they are approved at the next annual general meeting.
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BUILDING ON OUR STRENGTHS Singapore
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OUR MISSION To Inform, Educate & En
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STRENGTH in depth Our decades of ex
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STRENGTH in mobility Transcending l
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Group financial HIGHLIGHTS for the
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Businesses and products UNDER THE S
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15 I am pleased to report that the
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17 SPH is proud to have been honour
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19 Dr Tan is a Singapore Government
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21 Ms Chong, a licensed valuer, gra
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Corporate INFORMATION 23 Executive
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25 Tony Mallek Han Fook Kwang Goh S
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27 Han Fook Kwang Editor, The Strai
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29 Sng Ngoi May Executive Director,
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31 Despite an uncertain economic cl
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34 Singapore Press Holdings annual
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39 Paragon Food & Beverage Fair 201
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41 DECEMBER 2010 Paragon’s Interi
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43 15 MAY 2011 Shape Singapore laun
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45 SPH & SPH Foundation Charity Giv
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47 President’s Challenge - “Tho
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Corporate social responsibility - S
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Environmental SUSTAINABILITY 51 SPH
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53 SPH Family Day Yoga class for st
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55 Singapore HR Awards 2011 Preside
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57 Asian Publishing Awards 2011 17.
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59 Board attendance The Board meets
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61 Access to information Principle
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63 Remuneration of Executives The B
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65 A webcast of the half-year and f
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67 Mr Willie Cheng Jue Hiang Curren
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Risk MANAGEMENT 69 SPH has put in p
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Daily average NEWSPAPERS CIRCULATIO
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73 After-Tax Profit (S$’m) Return
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Value added STATEMENT for the finan
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77 Investor Relations Calendar 1st
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79 Recurring Earnings @ and Dividen
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Directors’ Report for the financi
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Consolidated Income Statement for t
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Consolidated Statement of Changes i
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Page 100 and 101: Notes to the Financial StatementS A
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