Notes to the Financial Statements - SingTel

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Notes to the Financial StatementsFor the financial year ended 31 March 20115. OPERATING EXPENSESGroup2011 2010S$ Mil S$ MilSelling and administrative costs (1) 4,701.4 4,165.3Traffic expenses 2,881.1 2,714.1Staff costs 2,196.6 2,122.1Cost of equipment sold 2,005.8 1,896.2Repairs and maintenance 322.2 322.0Other cost of sales 974.4 899.313,081.5 12,119.0Note:(1) Included mobile and broadband subscriber acquisition and retention costs, supplies and services, as well as rentals of properties andmobile base stations.5.1 Staff COSTSStaff costs included the following -Group2011 2010S$ Mil S$ MilContributions to defined contribution plans 211.8 204.8Performance share expense- equity-settled arrangements 21.9 24.4- cash-settled arrangements 3.4 9.2Termination benefits 8.3 6.8120 SINGAPORE TELECOMMUNICATIONS LIMITED AND SUBSIDIARY COMPANIES
Notes to the Financial StatementsFor the financial year ended 31 March 20115.2 Key Management Personnel CompensationGroup2011 2010S$ Mil S$ MilKey management personnel compensation (1)Directors’ fees and remuneration (2) 6.5 6.1Other key management personnel remuneration (3) 12.6 12.519.1 18.6Notes:(1) Comprised base salary, annual wage supplement, bonus, contributions to defined contribution plans and other cash benefits, and does notinclude performance share expense.(2) The Executive Director was awarded up to 1,564,409 (2010: 1,551,738) ordinary shares of SingTel pursuant to Share Plan 2004 duringthe year, subject to certain performance criteria including other terms and conditions being met. The performance share expense for theExecutive Director computed in accordance with FRS 102, Share-based Payment, was S$2.2 million (2010: S$2.6 million).(3) The other key management personnel were awarded up to 4,573,308 (2010: 3,953,019) ordinary shares of SingTel pursuant to SharePlan 2004 during the year, subject to certain performance criteria including other terms and conditions being met. The performanceshare expense for other key management computed in accordance with FRS 102, Share-based Payment, was S$5.8 million (2010:S$6.9 million).The other key management personnel of the Group comprise members of SingTel’s Management Committee.5.3 Share-based Payments5.3.1 Share optionsIn 2003, the Singapore Telecom Share Option Scheme 1999 was suspended with the implementation of Share Plan2003. The existing share options granted continue to vest according to the terms and conditions of the scheme and therespective grants.The share options have a validity period of ten years from the date of grant, and are granted either without performance hurdles(“Market Price Share Options”) or with performance hurdles (“Performance Share Options”).Market Price Share Options are granted based on the performance of the Group and individuals. These share options vest overthree years from the date of the grant and are exercisable after the first anniversary of the date of the grant and will expire onthe tenth anniversary of the date of grant.Performance Share Options are conditional grants where vesting is conditional on performance targets set based on mediumtermcorporate objectives. At the end of the three-year performance period, the final number of Performance Share Optionsawarded will depend on the level of achievement of those targets.ANNUAL REPORT 2010/2011 121
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Notes to the Financial Statements - SingTel

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