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 />
Financial instruments:<br />
<strong>2010</strong>/<strong>2011</strong><br />
Total Level 1 Level 2 Level 3<br />
$’000 $’000 $’000 $’000<br />
Financial assets at FVPL:<br />
Quoted debt securities (Note 13) 28,560 28,560 - -<br />
Financial liabilities at FVPL:<br />
Derivative financial Instruments (Note 13) 24 24 - -<br />
2009/<strong>2010</strong><br />
Financial assets at FVPL:<br />
Quoted debt securities 24,449 20,595 3,854 -<br />
Financial liabilities at FVPL:<br />
Derivative financial instruments 112 112 - -<br />
There were no significant transfers between levels of the fair value hierarchy during the financial year.<br />
(c)<br />
Capital risk management policies and objectives<br />
STB manages its capital to ensure that STB will be able to continue as a going concern while fulfilling its objective as a<br />
statutory board.<br />
The capital structure of STB consists of share capital and accumulated surplus. STB’s overall strategy remains unchanged<br />
from the previous financial year.<br />
5 SHARE CAPITAL<br />
<strong>2010</strong>/<strong>2011</strong> 2009/<strong>2010</strong> <strong>2010</strong>/<strong>2011</strong> 2009/<strong>2010</strong><br />
Number of shares (in ‘000) $’000 $’000<br />
Issued and fully paid up:<br />
Balance at beginning of financial year 95,318 53,935 95,318 53,935<br />
Equity injection (1) 231,122 41,383 231,122 41,383<br />
Balance at end of financial year 326,440 95,318 326,440 95,318<br />
(1)<br />
Injection of capital during the year is part of the Capital Management Framework for Statutory <strong>Board</strong>s under Finance Circular Minute M26/2008. The shares<br />
have been fully paid for to fund tourism-related assets and are held by the Minister for Finance, a body corporate incorporated by the Minister for Finance<br />
(Incorporation) Act (Chapter 183). The holder of these shares, which has no par value, is entitled to receive dividends from STB.<br />
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