Full Annual Report 2006 - Singapore Technologies Engineering

183
Notes to the Financial Statements 31 DECEMBER 2006
(Currency – Singapore dollars unless otherwise stated)
34. PROFIT FROM CONTINUING OPERATIONS
Profit from continuing operations is arrived at:
GROUP
NOTE 2006 2005
$’000 $’000
After charging
Auditors’ remuneration:
– auditors of the Company 1,555 1,406
– other auditors 2,929 1,477
Non-audit fees:
– auditors of the Company 330 190
– other auditors 1,000 309
Fees and remuneration of directors 3,960 3,085
Fees paid to a firm of which a director is a member 193 194
Personnel expenses 35 1,245,704 901,682
Depreciation of property, plant and equipment 7 130,676 79,092
Allowance/(write-back of allowance) for:
Stock obsolescence 9,330 5,169
Doubtful debts – trade 15 (7,378) (12,426)
Loans receivable 12 (944) (1,702)
Provision/(write-back of provision) for:
Foreseeable losses 23 (448) (873)
Liquidated damages 23 2,020 67
Warranties 23 23,855 14,569
Provision for impairment in value of investment in a joint venture 9 – 258
Property, plant and equipment written off 10,942 372
Research, design and development expenses incurred 58,435 37,480
Operating lease expenses 22,412 30,016
Amortisation of other intangible assets 11 5,135 1,522
Impairment of goodwill 11 8,135 4,483
Impairment loss – property, plant and equipment 7 297 12,213
Impairment of commercial and intellectual property rights 11 818 –
And crediting
Grants and subsidies received 1,204 1,464
Write-back of impairment in value of other intangible assets 11 – 234
Deferred income recognised 27 132 268