Annual Report 2012 - singapore land limited
Annual Report 2012 - singapore land limited
Annual Report 2012 - singapore land limited
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Singapore Land Limited - <strong>Annual</strong> <strong>Report</strong> <strong>2012</strong><br />
91<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
For the fi nancial year ended 31 December <strong>2012</strong><br />
30. RELATED PARTY TRANSACTIONS<br />
(a)<br />
In addition to the related party information shown elsewhere in the fi nancial statements, the following<br />
transactions took place between the Group and related parties during the fi nancial year:<br />
The Group<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Transactions with joint ventures<br />
Marketing fee income 1,892 -<br />
Project management fee income 330 200<br />
Fee income for arrangement of bank loan 50 60<br />
Transactions with a fi rm in which a director has an interest<br />
Professional fee expense 77 33<br />
Transactions with a related company<br />
Rental income 1,313 -<br />
(b)<br />
Key management personnel compensation<br />
Key management’s remuneration included fees, salary, bonus and other emoluments (including benefi tsin-kind)<br />
computed based on the cost incurred by the Group and the Company, and where the Group or<br />
the Company did not incur any costs, the value of the benefi t is included. The total key management’s<br />
remuneration is as follows:<br />
The Group<br />
<strong>2012</strong> 2011<br />
$’000 $’000<br />
Directors of the Company<br />
- Fees 313 329<br />
- Salaries, bonus and other emoluments 606 627<br />
- Employer’s contribution to defi ned contribution plan 6 5<br />
925 961<br />
31. SEGMENT INFORMATION<br />
For management purposes, the Group is organised into business units based on their products and services, and<br />
has three reportable operating segments as follows:<br />
• Property investment – leasing of commercial offi ce property, property management, investment holding, and<br />
investment in retail centres.<br />
• Property trading – development of properties for trading, project management and marketing services.<br />
• Hotel operations – operation of hotels in Singapore.<br />
Except as indicated above, no operating segments have been aggregated to form the above reportable<br />
operating segments.