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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.

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