Notes to the Consolidated Financial Statements - Uni-Asia Finance ...

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Uni-Asia Finance Corporation Annual Report 2009
Notes to the Consolidated Financial Statements
Year ended 31 December 2009
23. OTHER EXPENSES
The following items have been included in arriving at other expenses:
Note 2009 2008
US$’000 US$’000
Operating lease expenses 1,737 1,495
Hotel leases 9,712 6,316
Hotel sub-operator fee 846 686
Hotel operating expenses 10,584 7,110
Provision for onerous contracts 1,844 –
Investment properties operating expenses 3 31
Vessel operating expenses 1,202 –
Bad debt expenses 210 126
Impairment of accounts receivable 13 1,006 71
Travelling 264 1,205
Entertainment 123 233
Communication 221 270
Agency fee 1,835 1,191
Professional services fees 1,248 2,121
Non-audit fee paid to auditors of the Group 23 –
Non-audit fee paid to other auditors 25 53
Tax and public dues 248 314
Net foreign exchange loss 3,793 211
Miscellaneous 1,402 765
24. TAX
36,326 22,198
The Group’s taxes on assessable profits have been calculated at tax rates prevailing in the countries in which the Group operates,
based on existing legislation, interpretations and practices in respect thereof.
(a)
Income tax
Note 2009 2008
US$’000 US$’000
Current tax 221 331
Deferred tax 24(b) 1,573 (794)
Total tax expense/ (credit) for the year 1,794 (463)