2011 Annual Report - TOM Group

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106 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 Long-term bank loans Group Company 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 Unsecured 2,013,816 1,842,400 1,700,000 1,453,000 Less: current portion (73,160) (72,039) – – 1,940,656 1,770,361 1,700,000 1,453,000 The bank loans are repayable: Within one year 73,160 72,039 – – In the second year 73,160 1,526,986 – 1,453,000 In the third to fifth year 1,867,496 243,375 1,700,000 – Wholly repayable within 5 years 2,013,816 1,842,400 1,700,000 1,453,000 The bank loans are denominated in the following currencies: HK$ 1,700,000 1,453,000 1,700,000 1,453,000 NT$ 313,816 389,400 – – 2,013,816 1,842,400 1,700,000 1,453,000 These long-term bank loans are interest bearing at prevailing market rates ranging from Hong Kong Interbank Offered Rate (“HIBOR”) plus 1.60% to CP rate plus 0.7% per annum (2010: HIBOR plus 1.35% to CP rate plus 1.1%). Their carrying amounts approximate their fair values. TOM Group Limited
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 Pension assets and obligations The Group operates certain defined benefit pension plans in Hong Kong and Taiwan. These pension plans are either final salary defined benefit plans or with minimum guaranteed return rate on plan assets. The assets of the funded plans are generally held independently of the Group’s assets in separate trustee administered funds. The Group’s major plans are valued by qualified actuaries annually using the projected unit credit method. Defined benefit plans in Hong Kong and Taiwan are valued by Watson Wyatt and KPMG Advisory Services Company Limited respectively. (a) The pension assets/obligations recognised in the consolidated statement of financial position are determined as follows: Group 2011 2010 HK$’000 HK$’000 Present value of funded obligations (note c) 66,545 63,018 Fair value of plan assets (note d) (31,276) (30,679) Unrecognised prior service cost 22 45 Recognised in the consolidated statement of financial position 35,291 32,384 Represented by: Pension obligations 35,291 32,384 2011 2010 HK$’000 HK$’000 Actuarial loss recognised in the consolidated statement of comprehensive income (“SOCI”) in the year (2,747) (2,801) Cumulative actuarial (losses)/gains recognised in the SOCI (736) 2,011 Annual Report 2011 107
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CONTENTS CONTENTS 19 11 21 11 47 37
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2 CORPORATE PROFILE TOM Group Limit
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4 FINANCIAL HIGHLIGHTS For the year
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6 MANAGEMENT’S DISCUSSION AND ANA
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8 MANAGEMENT’S DISCUSSION AND ANA
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10 MANAGEMENT’S DISCUSSION AND AN
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12 DIRECTORS’ PROFILE Ip Tak Chue
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14 CORPORATE GOVERNANCE REPORT The
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18 CORPORATE GOVERNANCE REPORT Upon
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24 CORPORATE GOVERNANCE REPORT Corp
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28 REPORT OF THE DIRECTORS Director
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30 REPORT OF THE DIRECTORS (e) (f)
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32 REPORT OF THE DIRECTORS Director
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34 REPORT OF THE DIRECTORS Interest
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36 REPORT OF THE DIRECTORS Li Ka-Sh
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38 REPORT OF THE DIRECTORS (d) (e)
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40 REPORT OF THE DIRECTORS During t
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42 INDEPENDENT AUDITOR’S REPORT I
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44 CONSOLIDATED INCOME STATEMENT Fo
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46 CONSOLIDATED STATEMENT OF FINANC
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48 STATEMENT OF FINANCIAL POSITION
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50 CONSOLIDATED STATEMENT OF CHANGE
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52 NOTES TO THE CONSOLIDATED FINANC
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54 NOTES TO THE CONSOLIDATED FINANC
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Page 126 and 127: 124 PRINCIPAL SUBSIDIARIES, JOINTLY
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2011 Annual Report - TOM Group

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