NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
6 OTHER INCOME
Group
2014
2013
(restated)
$’000
$’000
Net loss on disposal of investment securities
(4,485)
(16)
Net gain/(loss) on disposal of marketable securities
577
(1,170)
Net gain on disposal of investment properties
39,172
3,684
Net gain on disposal of an associate *
–
91,823
Fair value changes in financial assets:
– Held-for-trading marketable securities
(1,561)
(1,065)
– Derivatives
40
84
– Ineffective portion of derivatives designated
as hedging instruments in cash flow hedge
154
(322)
Other operating income
1,196
930
35,093
93,948
* This was related to the disposal of the entire stake in WBL Corporation Limited (see also note 21).
7 EMPLOYEE BENEFITS EXPENSE
Group
2014
2013
(restated)
$’000
$’000
Wages, salaries and other allowances
27,309
28,921
Severance benefit (note 34)
13
(48)
Defined contribution plans
2,206
2,473
29,528
31,346
Less: Employee benefits expense capitalised in:
– Investment properties undergoing development (note 15(e))
(15)
(79)
29,513
31,267
8 IMPAIRMENT LOSSES
Group
2014
2013
$’000
$’000
Impairment/(Reversal) of associates and joint ventures (note 18)
1,219
(2,341)
Revaluation deficit of properties
11
–
Impairment of available-for-sale investment securities
37
5,040
1,267
2,699
85
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
