Notes to the Financial Statements - Swissco Holdings Limited

Notes
to the Financial Statements
For the financial year ended 31 December 2009
27. Dividends
Group and Company
2009 2008
$ $
Final tax exempt (one-tier) dividend paid in respect of the previous
financial year of 1 cent (2008: 0.2 cent) per share 1,972,087 393,567
Special final tax exempt (one-tier) dividend paid in respect of the
previous financial year of Nil cent (2008: 0.8 cent) per share – 1,574,270
1,972,087 1,967,837
At the Annual General Meeting on 16 April 2010, a final tax exempt (one-tier) dividend of 1 cent per share
amounting to S$1,972,087 will be recommended. These financial statements did not reflect these dividends,
which will be accounted for in shareholders’ equity as an appropriation of retained earnings in the financial
year ending 31 December 2010.
28. Commitments
(a)
Operating lease commitments - where the Group is a lessee
The Group leases office premises under non-cancellable operating lease agreements. The leases
have varying terms and renewal rights.
The future minimum lease payables under non-cancellable operating leases contracted for at the
balance sheet date but not recognised as liabilities, are as follows:
Group
2009 2008
$ $
Not later than one year
- Non-related parties 159,077 188,767
- A related party 204,191 240,000
363,268 428,767
Between one and five years
- Non-related parties 614,825 740,101
More than five years
- Non-related parties 3,494,090 4,370,195
4,472,183 5,539,063
The related party is a company controlled by the controlling shareholders of the Company.
71 Annual Report 2009 Swissco International Limited