Full Annual Report 2006 - Singapore Technologies Engineering

THE WINNING SPIRIT ST Engineering AR 2006 134
Notes to the Financial Statements 31 DECEMBER 2006
(Currency – Singapore dollars unless otherwise stated)
5. OTHER RESERVES
FOREIGN
CURRENCY FAIR SHARE-BASED ASSET
TRANSLATION STATUTORY VALUE PAYMENT REVALUATION
RESERVE RESERVE RESERVE RESERVE RESERVE TOTAL
$’000 $’000 $’000 $’000 $’000 $’000
The Group
At 1.1.2005 (7,594) 333 49,221 5,585 – 47,545
Foreign currency translation
differences 1,223 – – – – 1,223
Net fair value changes on
available-for-sale financial assets – – (1,931) – – (1,931)
Net fair value changes on
cash flow hedges – – (2,550) – – (2,550)
Total net income recognised directly
in equity and for the year 1,223 – (4,481) – – (3,258)
Cost of share-based payment – – – 8,537 – 8,537
Transfer from unappropriated
profit to statutory reserve – 133 – – – 133
At 31.12.2005 (6,371) 466 44,740 14,122 – 52,957
At 1.1.2006 (6,371) 466 44,740 14,122 – 52,957
Foreign currency translation
differences (33,321) – – – – (33,321)
Net fair value changes on
available-for-sale financial assets – – (14,542) – – (14,542)
Net fair value changes on
cash flow hedges – – (879) – – (879)
Total net income recognised directly
in equity and for the year (33,321) – (15,421) – – (48,742)
Cost of share-based payment – – – 9,431 – 9,431
Revaluation surplus – – – – 81 81
Transfer from unappropriated
profit to statutory reserve – 246 – – – 246
At 31.12.2006 (39,692) 712 29,319 23,553 81 13,973
GROUP
2006 2005
$’000 $’000
Net fair value changes on available-for-sale financial assets arises from:
– Net gain on fair value changes during the year 9,795 5,016
– Recognised in the statement of profit and loss (24,337) (6,947)
(14,542) (1,931)
Foreign currency translation reserve
The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial
statements of foreign subsidiaries whose functional currencies are different from that of the Group’s presentation currency.