i'mpact Singapore Tourism Board Annual Report 2010/2011

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Opinion In our opinion, the financial statements of STB are properly drawn up in accordance with the provisions of the Act and SB-FRS so as to give a true and fair view of the state of affairs of STB as at 31 March 2011 and of the results, changes in equity and cash flows of STB for the year ended on that date. Report on Other Legal and Regulatory Requirements In our opinion, proper accounting and other records required by the Act to be kept by STB have been properly kept in accordance with the provisions of the Act. During the course of our audit, nothing came to our notice that caused us to believe that the receipt, expenditure and investment of monies and the acquisition and disposal of assets by STB during the year have not been in accordance with the provisions of the Act. Public Accountants and Certified Public Accountants Singapore 4 July 2011 58
STATEMENT OF FINANCIAL POSITION As at 31 March 2011 Note 2010/2011 2009/2010 $’000 $’000 Capital and Reserves Share capital 5 326,440 95,318 Accumulated surplus 223,420 181,395 Represented by: 549,860 276,713 Non-Current Assets Heritage materials 12 26,399 - Property, plant and equipment 7 332,146 127,030 Investment properties 8 20,238 19,662 Finance lease receivable 9 22,290 22,705 Available-for-sale-investments 10 2,000 2,000 Other assets 150 150 Total non-current assets 403,223 171,547 Current Assets Cash and cash equivalents 11 205,476 117,208 Receivables and prepayments 12 13,223 42,270 Current portion of finance lease receivable 9 415 390 Financial assets under fund management 13 33,553 33,003 Total current assets 252,667 192,871 Less: Current Liabilities Advances and deposits received 14 8,929 13,655 Trade and other payables 15 94,485 71,299 Current portion of deferred long-term lease income 117 117 Total current liabilities 103,531 85,071 Net Current Assets 149,136 107,800 Non-Current Liabilities Deferred long-term lease income 875 991 Deferred capital grant 20 1,624 1,643 Total non-current liabilities 2,499 2,634 Net Assets 549,860 276,713 Net Assets of Trust and Agency Funds 6 2,107 2,180 The accompanying notes form part of the financial statements. 59
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i’mpact Singapore Tourism Board A
Page 3 and 4:
Vision To be a leading economic dev
Page 5 and 6:
Chairman’s message On behalf of t
Page 7 and 8: Chief Executive’s Message Collabo
Page 9 and 10: Board of Directors Ms Aw Kah Peng M
Page 11 and 12: Board of Directors Mr Mike Barclay
Page 13 and 14: Board of Directors Mr Steven Lim Mr
Page 15 and 16: Board of Directors Mrs Diana Ee-Tan
Page 17 and 18: Board of Directors Ms Jessica Tan A
Page 19 and 20: MANAGEMENT team (as of 1 July 2011)
Page 21 and 22: Corporate Governance BOARD MATTERS
Page 23 and 24: Corporate Governance Table 2: Direc
Page 25 and 26: Corporate Governance It approves th
Page 27 and 28: YourSingapore Bringing the YourSing
Page 29 and 30: STB ACROSS THE GLOBE Stamping A Glo
Page 31 and 32: STB ACROSS THE GLOBE N-TV channel b
Page 33 and 34: STB ACROSS THE GLOBE WORLD EXPO Orc
Page 35 and 36: Tourism Sector Performance Overview
Page 37 and 38: Tourism Sector Performance This tre
Page 39 and 40: Tourism Sector Performance Cruise R
Page 41 and 42: Tourism Sector Performance the prof
Page 43 and 44: Tourism Sector Performance The loca
Page 45 and 46: Tourism Sector Performance No less
Page 47 and 48: Tourism Sector Performance alongsid
Page 49 and 50: Awards and Accolades Destination
Page 51 and 52: Awards and Accolades Shangri-La Hot
Page 53 and 54: Awards and Accolades Attractions Bu
Page 55 and 56: FINANCIAL STATEMENTS Statement by t
Page 57: INDEPENDENT AUDITORS’ REPORT TO T
Page 61 and 62: STATEMENT OF CHANGES IN EQUITY Year
Page 63 and 64: 2010/2011 2009/2010 $’000 $’000
Page 65 and 66: NOTES TO THE FINANCIAL STATEMENTS 3
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i'mpact Singapore Tourism Board Annual Report 2010/2011

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