Annual Report - QuamIR
Annual Report - QuamIR Annual Report - QuamIR
Notes to the Consolidated Financial Statements (Continued) 8 Operating profit/(loss) Operating profit/(loss) is arrived at after (charging)/crediting the following items: 8 2011 2010 HK$ Million HK$ Million Employee benefit expenses (Note 11) 11 (157.0) (154.8) Employee share option benefits, net (Note 11) 11 (4.7) 4.8 Amortisation – prepaid land lease payments (Note 17) 17 (38.0) (40.8) – intangible assets (Note 19) 19 (8.1) (7.5) Depreciation of property, plant and equipment (Note 18) 18 (97.7) (70.9) Cost of inventories (13.9) (13.5) Cost of properties sold (220.5) (163.9) Direct operating expenses arising from investment properties that generate rental income (3.1) (2.9) Auditor’s remuneration – audit service (6.5) (6.9) Operating lease payments (17.7) (12.8) Net exchange (loss)/gain (20.2) 1.0 Research and development expense (12.2) – Write down of inventories (2.9) – 9 Finance income and costs 9 2011 2010 HK$ Million HK$ Million Interest expenses: Bank loans wholly repayable within 5 years (90.2) (82.4) Bank loans not wholly repayable within 5 years (113.5) (117.8) Other loans wholly repayable within 5 years (3.1) (39.0) Other loans not wholly repayable within 5 years (6.0) (10.5) Less: capitalised in construction-in-progress and properties under development (212.8) (249.7) 20.4 24.1 Finance costs (192.4) (225.6) Finance income 29.0 18.9 Net finance costs (163.4) (206.7) Note: The capitalisation rate applied to funds borrowed was between 5.79% – 6.14% (2010: 5.94% – 6.40%) per annum during the year ended 31 December 2011. 5.79% 6.14%5.94% 6.40% 128 HKC (Holdings) Limited • Annual Report 2011
Notes to the Consolidated Financial Statements (Continued) 10 Directors’ and senior management’s emoluments (a) Directors’ emoluments The remuneration of every director for the year ended 31 December 2011 is set out below: 10 (a) Employer’s Name of director/ex-director Fees Salary and other benefits Discretionary bonuses contribution to pension scheme Sub-total Share–based compensation (7) Total (7) HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 OEI Tjie Goan – – – – – – – LI Xueming (1) (1) 41.4 – – – 41.4 – 41.4 XU Zheng (2) (2) 26.0 – – – 26.0 – 26.0 OEI Kang, Eric 175.0 7,931.0 1,723.5 24.0 9,853.5 12.4 9,865.9 CHANG Li Hsien, Leslie (3) (3) 175.0 9,020.0 8,100.0 24.0 17,319.0 3,075.3 20,394.3 CHUNG Wai Sum, Patrick (4) (4) 55.8 2,847.5 1,487.5 7.0 4,397.8 371.2 4,769.0 YEN Teresa 100.0 – – – 100.0 – 100.0 WAN Ming Sun 100.0 – – – 100.0 – 100.0 LIU Guolin (1) (1) 41.4 – – – 41.4 – 41.4 FAN Yan Hok, Philip 220.0 – – – 220.0 24.8 244.8 CHUNG Cho Yee, Mico 220.0 – – – 220.0 24.8 244.8 CHENG Yuk Wo 220.0 – – – 220.0 24.8 244.8 Albert Thomas DA ROSA, Junior 220.0 – – – 220.0 24.8 244.8 1,594.6 19,798.5 11,311.0 55.0 32,759.1 3,558.1 36,317.2 • 129
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Notes to the Consolidated Financial Statements (Continued)<br />
<br />
10 Directors’ and senior management’s emoluments<br />
(a) Directors’ emoluments<br />
The remuneration of every director for the year ended 31<br />
December 2011 is set out below:<br />
10 <br />
(a) <br />
<br />
<br />
Employer’s<br />
Name of director/ex-director Fees<br />
Salary<br />
and other<br />
benefits<br />
Discretionary<br />
bonuses<br />
contribution<br />
to pension<br />
scheme Sub-total<br />
<br />
<br />
Share–based<br />
compensation (7) Total<br />
(7) <br />
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000<br />
<br />
OEI Tjie Goan – – – – – – –<br />
LI Xueming (1) (1) 41.4 – – – 41.4 – 41.4<br />
XU Zheng (2) (2) 26.0 – – – 26.0 – 26.0<br />
OEI Kang, Eric 175.0 7,931.0 1,723.5 24.0 9,853.5 12.4 9,865.9<br />
CHANG Li Hsien, Leslie (3) (3) 175.0 9,020.0 8,100.0 24.0 17,319.0 3,075.3 20,394.3<br />
CHUNG Wai Sum, Patrick (4) (4) 55.8 2,847.5 1,487.5 7.0 4,397.8 371.2 4,769.0<br />
YEN Teresa 100.0 – – – 100.0 – 100.0<br />
WAN Ming Sun 100.0 – – – 100.0 – 100.0<br />
LIU Guolin (1) (1) 41.4 – – – 41.4 – 41.4<br />
FAN Yan Hok, Philip 220.0 – – – 220.0 24.8 244.8<br />
CHUNG Cho Yee, Mico 220.0 – – – 220.0 24.8 244.8<br />
CHENG Yuk Wo 220.0 – – – 220.0 24.8 244.8<br />
Albert Thomas DA ROSA, Junior 220.0 – – – 220.0 24.8 244.8<br />
1,594.6 19,798.5 11,311.0 55.0 32,759.1 3,558.1 36,317.2<br />
•<br />
129
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