Annual Report 2012 - ecoWise Holdings Limited

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92ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS9. FINANCE COSTSGroup2012 2011$’000 $’000Interest expenses on bank loans 916 741Interest expenses on finance lease liabilities 92 102Interest expenses on retirement benefit obligations 34 321,042 87510. EMPLOYEE BENEFITS EXPENSEGroup2012 2011$’000 $’000Salaries, bonus and other wages 13,342 11,063Contributions to defined contribution plans 1,052 789Provision for retirement benefit obligations expense (net) 34 19Equity-settled share-based expenses 528 –Other benefits 557 42715,513 12,29811. ITEMS IN THE STATEMENT OF COMPREHENSIVE INCOMEIn addition to items of profit or loss disclosed elsewhere in the notes to the financial statements, items inthe statement of comprehensive income include the following:Group2012 2011$’000 $’000Auditors’ remuneration:Auditor of the Company 213 214Member firms of the Auditor of the Company 97 97Other auditors 10 4Non-audit fees paid and payable to:Auditors of the Company 93 48Member firms of the Auditor of the Company 14 21Other auditors 2 –
ecoWise Holdings Limitedannual report 20129331 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS12. INCOME TAX EXPENSE12A. Components of Income Tax Expense Recognised in Profit or LossGroup2012 2011$’000 $’000Current tax expenseCurrent tax expense 1,875 951Withholding tax expense 66 77Adjustments to current tax in respect of prior years (186) 2531,755 1,281Deferred tax expenseDeferred tax expense (44) 60(44) 60Total income tax expense 1,711 1,341The income tax in profit or loss varied from the amount determined by applying the Singapore income taxrate of 17% (2011: 17%) to profit or loss before income tax as a result of the following differences:Group2012 2011$’000 $’000Profit before income tax 3,429 2,273Add: Share of losses from associates 345 2873,774 2,560Income tax using Singapore’s income tax rate above 642 435Effect of different tax rates in foreign jurisdictions 572 227Withholding tax expense 66 77Non-deductible items 556 469Tax exempt income (317) (220)Tax incentives (10) (41)Adjustments to current tax in respect of prior years (186) 253Deferred tax assets not recognised 419 126Others (31) 15Total income tax expense 1,711 1,341
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ANNUAL REPORT 2012PURSUINGSUSTAINAB
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Annual Report 2012 - ecoWise Holdings Limited

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