A N N U A L R E P O R T 2 0 0 7 - the grande holdings limited

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notes to financial statements31 December 200739. COMMITMENTS (continued)2007 2006HK$HK$millionmillion(c)At the balance sheet date, the Group hadcontracted with tenants for the following futureminimum lease payments:Investment properties:Not later than one year – 2Later than one year and not later than five years – 340. BANKING AND OTHER BORROWING FACILITIES– 5Certain banking and other borrowing facilities available to the Group were secured byassets for which the aggregate carrying values were as follows:2007 2006HK$HK$millionmillion(a) Legal charges over brands and trademarks,account receivables and inventories 642 493(b) Legal charges over medium-term prepaid leaseand buildings in Hong Kong – 59(c) Legal charges over investment properties 38 394(d) Legal charges over plant and equipments 108 36(e) Pledge of medium-term prepaid lease andbuildings outside Hong Kong 100 64(f) Pledge of marketable securities 223 587(g) Pledge of bank deposits 101 331,212 1,666The Grande Holdings Limited Annual Report 2007 83
notes to financial statements31 December 200741. PROVIDENT FUND SCHEMESFrom 1 December 2000 onwards, all the staff of the Group in Hong Kong were offeredthe opportunity to join the Mandatory Provident Fund Scheme (the “MPF Scheme”),introduced by the Hong Kong Special Administrative Region. Under the MPF Scheme,the employees are required to contribute 5% of their monthly salaries up to a maximumof HK$1,000 per employee and they can choose to make additional contributions. Theemployer’s monthly contributions are calculated at 5% of each employee’s monthlysalaries up to a maximum of HK$1,000. The employees are entitled to 100% of theemployer’s mandatory contributions upon their retirement at the age of 65 years old,death or total incapacity.The PRC employees of the subsidiaries in the PRC are members of the pension schemeoperated by the PRC local government. The subsidiaries are required to contribute acertain percentage of the relevant payroll of these employees to the pension scheme tofund the benefits. The only obligation for the Group with respect of the pension schemeis the required contribution under the pension scheme.The staff in United States of America who wish to participate in the plan may contributeup to the legal limits, to which a specified percentage is matched by the subsidiaries inaccordance with their plans.The Group also operates various retirement benefit schemes for qualifying employees ofits overseas subsidiaries, including subsidiaries in the Denmark, Singapore and Malaysia.The assets of the retirement benefit schemes are held separately from those of theGroup, in funds under control of trustees. The Group contributes a certain percentage ofthe relevant payroll costs to the schemes, which contribution is matched by employees.42. SEGMENT REPORTING(a) Business segmentsThe Group comprises of:Groups(i) Branded distribution(ii) Electronics manufacturing servicesPrincipal activitiesTrading of audio & video products,licensing business andsecurities trading.Manufacture and trading of electronicproducts84 The Grande Holdings Limited Annual Report 2007
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A N N U A L R E P O R T 2 0 0 7
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THE GRANDEHOLDINGS LIMITED
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68101214223032Corporate Information
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FOUNDING CHAIRMANDr. Stanley HoBOAR
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For the financial year of 2007, the
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eview of operations and prospectsTH
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THE GRANDE HOLDINGS LIMITED 1Electr
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corporate governance reportThe list
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corporate governance reportThe Chai
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corporate governance reportThe Remu
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corporate governance reportCOMMUNIC
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eport of the directorsSummary Finan
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eport of the directorsDirectors’
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eport of the directorsBrief Biograp
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eport of the directorsPost Balance
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independent auditors’ reportOpini
Page 34 and 35: consolidated balance sheet31 Decemb
Page 36 and 37: consolidated statement of recognise
Page 38 and 39: consolidated cash flow statementyea
Page 40 and 41: notes to financial statements31 Dec
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A N N U A L R E P O R T 2 0 0 7 - the grande holdings limited

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