Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.

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NOTES TO THE FINANCIAL STATEMENTS 24. GENERAL ADMINISTRATIVE EXPENSES 2008 2007 2008 2007 US$ US$ Riel Million Riel Million (Unaudited) (Unaudited) Employee benefit expense (note 25) 5,597,598 3,373,229 22,845 13,503 Depreciation and amortisation 1,282,794 799,904 5,235 3,202 Charitable donations and gifts 968,163 523,824 3,951 2,097 Communication 452,729 229,280 1,848 918 Travel, accommodation and food 439,340 249,106 1,793 997 Utilities 427,646 237,128 1,745 949 Advertising and public relations 397,254 337,173 1,621 1,350 Taxes and duties 327,251 272,510 1,336 1,091 Building rental 299,544 166,020 1,222 665 Repair and maintenance 254,426 92,252 1,038 369 Legal and professional fees 219,530 172,122 896 689 Motor vehicles 124,787 96,460 509 386 Printing and forms 117,352 58,878 479 236 Stationery and supplies 53,692 32,639 219 131 Furniture, fixture and equipment expenses 42,335 42,456 173 170 Loss on disposals of property and equipment 31,580 235 129 1 Insurance 14,449 18,672 59 75 Loss on sales of properties foreclosed - 287,787 - 1,152 Other operational costs 357,671 150,425 1,459 601 25. EMPLOYEE BENEFIT EXPENSE 11,408,141 7,140,100 46,557 28,582 2008 2007 2008 2007 US$ US$ Riel Million Riel Million (Unaudited) (Unaudited) Salaries 4,263,003 3,006,960 17,398 12,037 Other short term benefits 496,805 366,269 2,028 1,466 Staff gratitude benefits 837,790 - 3,419 - 5,597,598 3,373,229 22,845 13,503 Annual Report 2008 49
NOTES TO THE FINANCIAL STATEMENTS 26. PROVISION FOR BAD LOANS - NET 2008 2007 2008 2007 US$ US$ Riel Million Riel Million (Unaudited) (Unaudited) Provision for loan losses (note 7a ) (13,593,843) (16,772,419) (55,476) (67,140) Recovery of loan losses (note 7a ) 4,425,460 15,631,743 18,060 62,574 27. INCOME TAX EXPENSE (9,168,383) (1,140,676) (37,416) (4,566) 2008 2007 2008 2007 US$ US$ Riel Million Riel Million (Unaudited) (Unaudited) Current income tax expense 5,518,412 5,028,697 22,521 20,130 a) Reconciliation between income tax expense and accounting profit: 2008 2007 2008 2007 US$ US$ Riel Million Riel Million (Unaudited) (Unaudited Accounting profit before income tax 27,592,062 25,143,485 112,603 100,649 Non-deductible expenses for tax purposes - - - - Taxable income 27,592,062 25,143,485 112,603 100,649 Income tax calculated at the rate of 20% 5,518,412 5,028,697 22,521 20,130 In accordance with Cambodian tax laws, the Bank has an obligation to pay Corporate Income Tax of either Tax on Profit at the rate of 20% on taxable profit or Minimum Tax at 1% of turnover, whichever is higher. b) Deferred tax No deferred tax has been recognised in the financial statements as there are no material temporary differences. c) Other tax matters The Bank's tax returns are subject to periodic examination by the Tax Department. As the application of tax laws and regulations to many types of transactions are susceptible to varying interpretations, amounts reported in the financial statements could be changed at a later date, upon final determination by the Tax Department. 50 Annual Report 2008
Page 1 and 2: Annual Report 2008 64
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Page 5 and 6: CEO 4
Page 7 and 8: PRESIDENT’S AND CEO'S REPORT Dist
Page 9 and 10: VISION To be a premier and a well-r
Page 11 and 12: FIVE YEARS FINANCIAL REVIEW Total a
Page 13 and 14: RISK MANAGEMENT Being fully aware o
Page 15 and 16: BAD AND DOUBTFUL LOANS Before the f
Page 17 and 18: i) adopt appropriate accounting pol
Page 19 and 20: Opinion In our opinion, the accompa
Page 21 and 22: 20 Annual Report 2008
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Page 25 and 26: INCOME STATEMENT FOR THE YEAR ENDED
Page 27 and 28: 26 Annual Report 2008
Page 29 and 30: )aykarN_lMhUrsac;R)ak; sMrab;dMNac;
Page 31 and 32: CASH FLOW STATEMENT FOR THE YEAR EN
Page 33 and 34: 32 NOTES TO THE FINANCIAL STATEMENT
Page 35 and 36: 34 NOTES TO THE FINANCIAL STATEMENT
Page 37 and 38: NOTES TO THE FINANCIAL STATEMENTS 2
Page 49: NOTES TO THE FINANCIAL STATEMENTS 2
Page 73 and 74: Sihanouk Ville Independent Blvd., S
Page 75: Sovanna # 307-309, St. 271, Sangkat

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