Annual Report 2010 - Leeden Limited

A Stronger Leeden in Asia.Notes to the Financial Statementsfor the Financial Year ended 31 December 20105. Other income/costsGroup2010 2009$’000 $’000Other income included the following:Grant income from job credit scheme 130 655Interest income 976 858Bad debts recovered 859 475Gain on disposal of property, plant and equipment 529 1,231Gain on disposal of other investments 13 –Repair and servicing 328 180Sales rebates 202 13Fair value gain on derivatives 90 576In 2008 the Singapore Finance Minister announced the introduction of a Jobs Credit Scheme (Scheme). Under thisScheme, the Group received a 12% cash grant on the first $2,500 of each month’s wages for each employee on theirCentral Provident Fund payroll. The Scheme is for one year, and the Group received its grant income of $130,000 (2009:$655,000) in four receipts in March, June, September and December 2009.The Scheme has been extended to June 2010 with payouts in March and June 2010 at stepped down rates of 6% and 3%respectively.Group2010 2009$’000 $’000Other costs included the following:Amortisation of intangible assets 176 176Allowance for stocks obsolescence 692 1,547Allowance for stock obsolescence written back (33) –Write-off of property, plant and equipment 5 –Allowance for doubtful debts 544 1,962Allowance for doubtful debts written back (1,034) –Loss on disposal of other investment – 60Fair value loss on derivatives 41 4566