27.12.2014 Views

Annual Report 2012 - singapore land limited

Annual Report 2012 - singapore land limited

Annual Report 2012 - singapore land limited

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

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.

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!