UOB Annual Report 2002 - United Overseas Bank

19 Revenue Reserves
(a) The Group
2002 2001
General Retained General Retained
Reserves Profits Total Reserves Profits Total
$'000 $'000 $'000 $'000 $'000 $'000
Balance at 1 January
As previously reported 1,148,706 1,987,504 3,136,210 916,528 1,875,760 2,792,288
Prior year adjustments resulting
from adoption of revised SAS 12 – 63,133 63,133 – 63,133 63,133
As restated 1,148,706 2,050,637 3,199,343 916,528 1,938,893 2,855,421
Net profit for the financial year
attributable to members – 1,064,200 1,064,200 – 924,579 924,579
Transfer to general reserves 331,000 (331,000) – 234,140 (234,140) –
Transfer to statutory reserves (Note 18) (519,604) (90,611) (610,215) – (219,067) (219,067)
Transfer to other reserves (Note 18) – (5,187) (5,187) – (1,081) (1,081)
Transfer from capital reserves (Note 18) – 1,000,109 1,000,109 – – –
Transfer from share of
reserves of associates (Note 20) – 7,231 7,231 – – –
Goodwill recovered on disposal of subsidiary – – – 15,231 – 15,231
Transfer to capital reserves due to bonus
shares issued by subsidiary (Note 18) – – – (17,193) (40,603) (57,796)
Other adjustments (2,129) – (2,129) – – –
Dividends:
Final dividend in respect of financial
year ended 31 December 2001
(2001: 31 December 2000) of 25 cents
(2001: 25 cents) per share paid,
net of tax at 22% (2001: 24.5%) – (306,454) (306,454) – (198,713) (198,713)
Interim dividend in respect of financial
year ended 31 December 2002
(2001: 31 December 2001) of 15 cents
(2001: 15 cents) per share paid,
net of tax at 22% (2001: 24.5%) – (183,874) (183,874) – (119,231) (119,231)
Interim dividend in respect of financial
year ended 31 December 2002 of
18.76 cents per share paid in specie,
net of tax at 22% [Note 19(c)] – (230,020) (230,020) – – –
– (720,348) (720,348) – (317,944) (317,944)
Balance at 31 December 957,973 2,975,031 3,933,004 1,148,706 2,050,637 3,199,343
UNITED OVERSEAS BANK 119