notes to the financial statements - Food Empire Holdings Limited

NOTES TO THE FINANCIAL STATEMENTS (cont’d)
For the year ended 31 December 2012
31. Reserves
Group
Company
2012 2011 2012 2011
US$’000 US$’000 US$’000 US$’000
Foreign currency translation reserve 974 850 4,234 3,869
Asset revaluation reserve 60 60 – –
Share-based payment reserve 1,136 825 1,136 825
Accumulated profits 119,097 103,115 5,682 5,291
121,267 104,850 11,052 9,985
(a)
Foreign currency translation reserve
The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements
of foreign operations whose functional currencies are different from that of the Group’s presentation currency.
(b)
Asset revaluation reserve
The asset revaluation reserve represents increases in the fair value of freehold and leasehold properties, net of tax, and decreases
to the extent that such decrease relates to an increase on the same asset previously recognised in other comprehensive income.
(c)
Share-based payment reserve
Share-based payment reserve represents the equity-settled share options granted to employees (Note 32). The reserve is made
up of the cumulative value of services rendered from employees recorded over the vesting period commencing from the grant
date of equity-settled share options, and is reduced by the expiry or exercise of the share options.
(d)
Fair value adjustment reserve
Fair value adjustment reserve represents the cumulative fair value changes, net of tax, of debentures until they are disposed
or impaired.
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