NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
55
ANNUAL REPORT 2015
1.
CORPORATE INFORMATION
The financial statements of The Straits Trading Company Limited (the “Company”) for the year ended 31 December 2015
were authorised for issue in accordance with a resolution of the Directors on 24 March 2016.
The Straits Trading Company Limited is a limited liability company incorporated and domiciled in Singapore. The registered
office of the Company is located at 9 Battery Road #28-01, Straits Trading Building, Singapore 049910. The Company is
listed on the Singapore Exchange Securities Trading Limited.
The immediate and ultimate holding company is The Cairns Private Limited, a company incorporated in Singapore.
The principal activity of the Company is that of an investment company. The subsidiaries, associates and joint ventures of the
Group are primarily engaged in real estate investment, tin mining and smelting, provision of real estate fund management
services, real estate management services and corporate finance advisory services and management of hospitality and
other properties as well as operation of hotels.
The consolidated financial statements relate to the Company and its subsidiaries (referred to as the “Group”) and the
Group’s interests in associates and joint ventures.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1
BASIS OF PREPARATION
The consolidated financial statements of the Group and the balance sheet of the Company have been prepared in
accordance with Singapore Financial Reporting Standards (FRS).
The financial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.
The financial statements are presented in Singapore dollars (SGD or $) and all values are rounded to the nearest thousand
($’000) except when otherwise indicated.
2.2
CHANGES IN ACCOUNTING POLICIES
The accounting policies adopted are consistent with those of the previous financial year except in the current financial
year, the Group has adopted all the new and revised standards which are effective for annual financial periods beginning
on or after 1 January 2015.
