Statutory Reports - Sembcorp

Notes to the Financial StatementsYear Ended December 31, 200935. Profit For The Year (cont’d)Group2009 2008Note S$’000 S$’00035. Profit For The Year (cont’d)Group2009 2008Note S$’000 S$’000b. Other expensesAllowance made / (written back) for impairment losses– property, plant and equipment 6 13,900 7,807– interests in other investments 13,206 486– receivables (53) 1,291– investment properties 7 – 69– inventory obsolescence 393 2,465– foreseeable losses on construction contracts (1,034) 2,957Amortisation of intangible assets 16 199 102Audit fees paid / payable– auditors of the Company 1,367 1,421– other auditors 572 614Non-audit fees paid / payable– auditors of the Company 143 119– other auditors 207 307Depreciation– property, plant and equipment 6 198,504 193,856– investment properties 7 1,009 1,007Professional fee paid to directors or a firm in which a director is a member 127 97Operating lease expenses 21,094 18,623Property, plant and equipment written off 6,091 3,203Inventory written off 37 –Intangible assets written off 16 42 100Bad debts written off 503 237c. Non-operating income / (expenses) (net)Net exchange loss (2,494) (19,564)Net change in fair value of derivative instruments 2,475 (37,935)Grants received– income related 830 83Gross dividend income 8,379 9,771Gain / (Loss) from disposal of– property, plant and equipment (net) 1,794 18,393– subsidiaries (14) –– associates 637 –– joint ventures (145) 35– other financial assets 3,375 (38,135)Interest income– associates and joint ventures 2,456 94– banks and others 31,518 35,678d. Material and unusual items included in:Non-operating income (net)Foreign exchange losses arising from Unauthorised Transactionsin a wholly-owned subsidiary of Sembcorp Marine Ltd (i) – (43,749)Less: Minority interests – 16,821– (26,928)i. Arising from the various unauthorised foreign exchange transactions entered into previously by an employeeof a subsidiary of the Company, Sembcorp Marine Ltd (“SCM”), for the account of a subsidiary, Jurong ShipyardPte Ltd (“JSPL”), S$43.7 million had been charged to the income statement following the full and final amicablesettlement of BNP Paribas’s claim of S$73.1 million in 2008, strictly on a commercial basis.Going forward, JSPL intends to recover the S$289.9 million paid to Societe Generale (SG) in 2007 as JSPL’sposition is that the underlying transactions with SG are not valid and binding. If JSPL succeeds in doing so,there will be an inflow of funds to be recognised in the financial statements at that relevant point in time.36. Earnings Per Sharea. Basic earnings per shareBasic earnings per share is based on:Group2009 2008i. Profit attributable to shareholders of the Company 682,664 507,061ii.S$’000No. of sharesS$’000No. of shares’000 ’000Weighted average number of ordinary shares:Issued ordinary shares at beginning of the year 1,776,974 1,783,783Effect of share options exercised 2,158 2,767Effect of own shares held – (7,635)Weighted average number of ordinary shares at the end of the year 1,779,132 1,778,915b. Diluted earnings per shareDiluted earnings per share is based on:i. Profit attributable to shareholders of the Company 682,664 507,061198 Essential Solutions for Growing NeedsSembcorp Industries Annual Report 2009 199