O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX

OTTO MARINE LIMITED AND ITS SUBSIDIARIES
The Group’s trade payables that are not denominated in the functional currencies of the respective
entities are as follows:
2007 2006 2005
$’000 $’000 $’000
Swedish Kroner .............................................. 277 — —
Singapore dollar .............................................. 4,754 — —
Japanese yen ................................................ 4,625 — —
British pound ................................................ 1,235 — —
Euro ...................................................... 28,844 682 290
Indonesian rupiah ............................................. 1,668 741 1,065
Norwegian Kroner ............................................ 3,887 367 —
United States dollar ........................................... 19,824 1,525 1,670
18 Other Payables
2007 2006 2005
$’000 $’000 $’000
Related parties (Note 5) ......................................... 2,201 1,416 700
Advance customer billings ....................................... — — 1,034
Other creditors ................................................ 2,783 3,595 1,113
Provision for retirement benefit obligation . . . ........................ 575 550 464
Salary related accruals .......................................... 1,002 649 494
6,561 6,210 3,805
Salary related accruals include $288,000 (2006: $220,000; 2005: $10,000) due to directors. The
amount due to directors is unsecured, interest-free and repayable within 12 months.
The Group’s other payables that are not denominated in the functional currencies of the respective
entities are as follows:
2007 2006 2005
$’000 $’000 $’000
Singapore dollar. .............................................. 105 — —
Indonesian rupiah. ............................................. 2,109 1,406 1,015
United States dollar ............................................ 2,734 — —
19 Deferred Gain
2007 2006 2005
$’000 $’000 $’000
Deferred gain ................................................. 13,101 — —
Current portion ................................................ (482) — —
Non-current portion. ............................................ 12,619 — —
The deferred gain relates to the Group’s share of the unrealised profit from the sale of vessels to
associates. The deferred gain will be amortised over the remaining useful life of the vessels against the
results of the associates in the profit and loss statement.
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