Annual Report 2012 - singapore land limited

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