notes to the financial statements - Investor Relations

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CWT Limited 90 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2011 12 DEFERRED TAX Movements in temporary differences during the year: At 31 December 2011 Acquisition Acquisition Recognised through Recognised through in profit At At business in profit Translation business or loss 31 December 1 January Translation combinations or loss differences combinations (note 38) 2010 2011 differences (note 40) (note 38) $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 At 1 January 2010 Group Deferred tax liabilities/(assets) Fair value adjustment on leasehold building 1,591 (129) – (54) 1,408 1,408 (6) 6,482 (264) 7,620 Property, plant and equipment 4,196 7 6 (442) 3,767 3,767 46 – (659) 3,154 Intangible assets 5,836 (628) – (168) 5,040 5,040 (169) 9,187 (782) 13,276 Inventories – – – – – – (63) 534 72 543 Trade and other receivables (313) 22 – 212 (79) (79) (109) 4,407 3,644 7,863 Trade and other payables (399) (4) – (12) (415) (415) 75 (1,085) 1,027 (398) Provisions (215) (12) – 62 (165) (165) 11 (136) (130) (420) Unutilised tax losses (2,067) 42 – (522) (2,547) (2,547) (29) (2) (3,682) (6,260) Others – – – – – – 2 1 54 57 8,629 (702) 6 (924) 7,009 7,009 (242) 19,388 (720) 25,435 Company Deferred tax liabilities/(assets) Property, plant and equipment 2,294 – – – 2,294 2,294 – – (302) 1,992 Trade and other payables (69) – – – (69) (69) – – – (69) Unutilised tax losses (1,923) – – – (1,923) (1,923) – – – (1,923) 302 – – – 302 302 – – (302) –
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2011 12 DEFERRED TAX (CONT’D) Annual Report 2011 Deferred tax liabilities and assets are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same taxation authority. The amounts determined after appropriate offsetting are included in the statement of financial position as follows: Group Company 2011 2010 2011 2010 $’000 $’000 $’000 $’000 Deferred tax liabilities 30,799 8,847 - 302 Deferred tax assets (5,364) (1,838) - - Deferred tax assets have not been recognised in respect of the following items: Group 2011 2010 $’000 $’000 Deductible temporary differences 556 988 Unutilised tax losses 63,838 38,680 64,394 39,668 The tax losses are subject to agreement by the tax authorities and compliance with tax regulations in the respective countries in which certain subsidiaries operate. The deductible temporary differences and tax losses do not expire under current tax legislation. Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profits will be available against which certain subsidiaries of the Group can utilise the benefits. 13 OTHER NON-CURRENT ASSETS Group Company 2011 2010 2011 2010 $’000 $’000 $’000 $’000 Other investments 4,681 93 3 3 Other investments include clearing memberships with the Chicago Mercantile Exchange (“CME”), the Chicago Board of Trade (“CBOT”) and the New York Mercantile Exchange (“NYMEX”) amounting to $4,200,000 (2010: nil). The clearing membership is a prerequisite for the Group to trade in CME, CBOT and NYMEX. 91
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CWT Limited Annual Report 2011 Annu
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ABOUT THE CWT GROUP VISION To Be A
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GROUP FIVE-YEAR FINANCIAL SUMMARY F
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Largest warehouse operator in Singa
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CWT Limited CHAIRMAN’S STATEMENT
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CWT Limited BOARD OF DIRECTORS Loi
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CWT Limited EXECUTIVE TEAM Loi Pok
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ELEVATION Rising through resilience
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COMMODITY SUPPLY CHAIN MANAGEMENT C
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MIDDLE EAST Kuwait Kuwait UK Estoni
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CWT Limited OPERATIONS REVIEW “Am
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CWT Limited OPERATIONS REVIEW 1. Br
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CHARACTER Our identity and performa
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EHS activities and related awards E
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Investor Relations We regularly eng
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CORPORATE GOVERNANCE Annual Report
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Page 41 and 42: CORPORATE GOVERNANCE Annual Report
Page 47 and 48: DIRECTORS’ REPORT YEAR ENDED 31 D
Page 49 and 50: STATEMENT BY DIRECTORS YEAR ENDED 3
Page 51 and 52: STATEMENT OF FINANCIAL POSITION AS
Page 53 and 54: Annual Report 2011 CONSOLIDATED STA
Page 55 and 56: CONSOLIDATED STATEMENT OF CHANGES I
Page 57 and 58: CONSOLIDATED STATEMENT OF CHANGES I
Page 59 and 60: CONSOLIDATED STATEMENT OF CASH FLOW
Page 61 and 62: NOTES TO THE FINANCIAL STATEMENTS Y
Page 91: NOTES TO THE FINANCIAL STATEMENTS Y
Page 135 and 136: STATISTICS OF SHAREHOLDINGS SHAREHO
Page 137 and 138: NOTICE OF ANNUAL GENERAL MEETING An
Page 139 and 140: NOTICE OF ANNUAL GENERAL MEETING An
Page 141 and 142: CWT LIMITED (Company Registration N
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CORPORATE DIRECTORY Loi Pok Yen Gro
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