Notes to the Financial Statements - SingTel

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Notes to the Financial StatementsFor the financial year ended 31 March 20115.3.3 Performance-based Deferred Bonus Scheme (“PBDBS”)With effect from 2004, discretionary PBDBS units are granted to selected overseas local hires. While these units have the samevesting criteria as the Share Plan 2004, the payout is in the form of cash instead of shares. The recipients are encouraged topurchase and hold SingTel shares with the cash payout, in line with the objective of the performance share plans.Date of grantFY2008 FY2009 FY2010 FY20112011 29 May 07 4 June 08 3 June 09 3 June 10 GroupPBDBS (cash-settled)Number of performance shares (’000)Outstanding as at 1 April 2010 584 572 589 - 1,745Granted - - - 538 538Vested (534) - - - (534)Cancelled (50) (26) - - (76)Outstanding and unvested as at31 March 2011 - 546 589 538 1,673Fair value at 31 March 2011 S$2.96 S$1.63 S$1.27Assumptions under Monte-Carlo ModelExpected volatilitySingTel 30.5% 30.5%MSCI Asia Pacific Telco Index 19.9% 19.9%MSCI Asia Pacific Telco Component Stocks800 days historical volatilitypreceding March 2011Risk free interest ratesYield of Singapore Government Securities on 31 March 2011 31 March 2011128 SINGAPORE TELECOMMUNICATIONS LIMITED AND SUBSIDIARY COMPANIES
Notes to the Financial StatementsFor the financial year ended 31 March 20115.3.3 Performance-based Deferred Bonus Scheme (“PBDBS”) (Cont’d)Date of grantFY2007 FY2008 FY2009 FY20102010 25 May 06 29 May 07 4 June 08 3 June 09 GroupPBDBS (cash-settled)Number of performance shares (’000)Outstanding as at 1 April 2009 953 613 622 - 2,188Granted - - - 623 623Vested (900) - - - (900)Cancelled (53) (29) (50) (34) (166)Outstanding and unvested as at31 March 2010 - 584 572 589 1,745Fair value at 31 March 2010 S$3.22 S$1.46 S$1.92Assumptions under Monte-Carlo ModelExpected volatilitySingTel 33.7% 33.7%MSCI Asia Pacific Telco Index 22.8% 22.8%MSCI Asia Pacific Telco Component Stocks800 days historical volatilitypreceding March 2010Risk free interest ratesYield of Singapore Government Securities on 31 March 2010 31 March 2010ANNUAL REPORT 2010/2011 129
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Notes to the Financial Statements - SingTel

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