SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2004
28. Related party transactions (continued)
(b)
Key management’s remuneration
The key management’s remuneration included fees, salary, bonus, commission and other emoluments (including
benefits-in-kind) computed based on the cost incurred by the Group and the Company, and where the Group or
Company did not incur any costs, the value of the benefit is included. The total key management’s remuneration
is as follows:
The Group
2004 2003
$ $
Key management’s remuneration:
- directors of the Company 182,741 –
- directors of subsidiaries 428,804 550,323
29. Segment information
Primary reporting format – business segments
At 31 December 2004, the Group is organised into three main business segments:
• Chartering (including sale of out-port-limit services and related income)
• Ship repair and related services
• Trading of marine equipment
Inter-segment transactions are determined on an arm’s length basis. Unallocated costs represent corporate
expenses. Segment assets consist primarily of property, plant and equipment, cash and cash equivalents, trade
and other receivables, inventories and other current assets. Segment liabilities comprise operating liabilities and
exclude items such as tax liabilities and bank borrowings. Capital expenditure comprises additions to property,
plant and equipment.
ANNUAL REPORT 2004_49