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

determined the profits will not be distributed in the foreseeable future. The amount of undistributed
profits amounted to $86,419,000 (2006: $27,030,000; 2005: $4,232,000).
29 Profit (Loss) for the Year
Profit (loss) for the year has been arrived at after charging (crediting):
2007 2006 2005
$’000 $’000 $’000
Depreciation of property, plant and equipment
Included in cost of sales ...................................... 927 918 2,359
Included in administrative expenses. ............................. 127 59 31
Capitalised in construction in progress ........................... 1,308 361 1,007
2,362 1,338 3,397
Directors’ remuneration ........................................
Employee benefits expense (including directors’ remuneration)
1,040 619 417
Defined contribution plans .................................... 410 178 166
Others ................................................... 8,794 7,102 4,558
Total employee benefits expense .................................. 9,204 7,280 4,724
Included in cost of sales ...................................... 2,378 3,395 2,510
Included in administrative expenses. ............................. 6,826 3,885 2,214
9,204 7,280 4,724
Cost of inventories recognised as expenses .......................... 5,083 11,623 7,471
Bad trade receivables written off. ................................. 1,333 427 295
Gain on disposal of property, plant and equipment .................... (17) — (52)*
* Included in cost of sales
OTTO MARINE LIMITED AND ITS SUBSIDIARIES
30 Earnings per Share
For illustrative purpose, the calculation of the basic earnings per share is based on the net profit
attributable to equity holders of the Company for each of the financial years ended December 31, 2007,
2006 and 2005 and pre-invitational share capital of 975,000,000 shares in issue as at the date of this
report, representing the pre-invitational share capital.
There were no diluted earnings per share for each of the financial years ended December 31, 2007,
2006 and 2005 as there were no potential ordinary shares outstanding.
31 Acquisition of Subsidiary
In December 2007, the Company acquired a subsidiary, incorporated in Indonesia, for a cash
consideration of $2,190,000.
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