i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
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NOTES TO THE FINANCIAL STATEMENTS<br />
31 March <strong>2011</strong><br />
Depreciation of property, plant and equipment and investment properties<br />
The cost of property, plant and equipment and investment properties are depreciated on a straight-line basis over their useful<br />
lives. STB estimates the useful lives of these property, plant and equipment and investment properties to be within 3 to 99 years,<br />
based on the lease period for leasehold properties and estimated useful lives of the assets. The carrying amounts are disclosed<br />
in Note 7 and 8 of the financial statements. Changes in the expected level of usage, technological developments and economic<br />
condition could impact the economic useful lives and the residual values of these assets, therefore future depreciation charges<br />
could be revised.<br />
4 FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL RISKS MANAGEMENT<br />
(a)<br />
Categories of financial instruments<br />
The following table sets out the financial instruments:<br />
<strong>2010</strong>/<strong>2011</strong> 2009/<strong>2010</strong><br />
$’000 $’000<br />
Financial assets<br />
At fair value through profit or loss (Note 13) 28,560 24,337<br />
Loans and receivables (including cash and cash equivalent) 243,022 186,885<br />
Available-for-sale investments 2,000 2,000<br />
Total 273,582 213,222<br />
Financial liability<br />
Amortised cost 101,246 82,860<br />
Derivative financial instruments at fair value 24 112<br />
Total 101,270 82,972<br />
(b)<br />
Financial risk management policies and objectives<br />
STB, in its normal course of operations, is exposed to market risk (including foreign exchange risk and interest rate risk),<br />
credit risk and liquidity risk. While STB does not hold or issue derivative financial instruments for trading purposes, STB<br />
may use such instruments for risk management purposes. STB has written policies and guidelines, which set out its<br />
general risk management philosophy.<br />
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