Asiaone 1-42

16. Cash and cash equivalents
FINANCIAL STATEMENTS
Cash and cash equivalents included in the statements of cash flows comprise the following
balance sheet amounts:
137
Proforma Company
November February
As at August 31, 30, 29,
1997 1998 1999 1999 2000
(All figures in thousands) S$ S$ S$ S$ S$
Cash and bank balances — 126 413 149 26
Time deposit — — — — 3,500
17. Significant related party transactions
— 126 413 149 3,526
The following are transactions entered into by the Company with related parties at rates agreed
between both parties:
Proforma Company
(A) (B) (A) + (B)
Six- Sixmonth
September July month
period 1, 1999 23, 1999 period
Financial year ended to to ended
ended August 31, February November February February
(All figures in 1997 1998 1999 28, 1999 30, 1999 29, 2000 29, 2000
thousands) S$ S$ S$ S$
(unaudited)
S$ S$ S$
Sales to holding company — — — — — 24 24
Sales to related company — — — — — 1 1
Expenses:
Services rendered by
related companies
— Premises cost 245 222 220 125 17 117 134
— Recruitment charge — — — — — 89 89
— Business promotions
Management fee to
— — 443 4 — 29 29
holding company — — — — — 465 465
On April 11, 2000, the Company entered into a hosting agreement (“Hosting Agreement”) with
its holding company, SPH. Pursuant to which the Company agreed to host, amongst other
things, such news, articles, text, photographs, cartoons, graphics, advertisements and other
items and materials written or authored by employees of SPH or other third parties and published
or designated for publication by SPH (“SPH Materials”) on its websites. In addition, the Company
agreed to perform related services such as the transfer and updating of the SPH Materials on
its websites and the conversion of the SPH Materials to Hypertext Mark-up language code
when requested by SPH.