notes to the financial statements - Investor Relations

NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2011
8 JOINTLY-CONTROLLED ENTITIES (CONT’D)
1 Audited by other member firms of KPMG International
2 Audited by Deloitte & Touche, Singapore
3 Audited by Deloitte & Touche, United Arab Emirates
4 Audited by KPMG LLP, Singapore
The jointly-controlled entities are not significant as defined under the Singapore Exchange Limited Listing Manual.
The Group’s share of the jointly-controlled entities’ results, assets and liabilities is as follows:
Annual Report 2011
Group
2011 2010
$’000 $’000
Assets and liabilities
Non-current assets 10,353 7,987
Current assets 11,588 6,884
Current liabilities (6,158) (2,435)
Non-current liabilities (2,921) (1,934)
Net assets 12,862 10,502
Cumulative share of unrecognised losses* 376 346
Results
13,238 10,848
Revenue 24,198 12,521
Expenses (20,849) (10,798)
Profit before tax 3,349 1,723
Income tax expense (373) (134)
Profit after taxation 2,976 1,589
* As at 31 December 2011 and 31 December 2010, the Group’s cumulative share of unrecognised losses for certain jointlycontrolled
entities had exceeded the Group’s cost of investment in these jointly-controlled entities.
The Group’s share of the jointly-controlled entities’ commitments is as follows:
2011 2010
$’000 $’000
(a) Non-cancellable operating lease commitments
Payable:
Within 1 year 478 698
After 1 year but within 5 years 1,337 1,319
After 5 years 11,007 11,164
Receivable:
12,822 13,181
Within 1 year 152 15
After 1 year but within 5 years 12 –
164 15
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