NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
82
THE STRAITS TRADING COMPANY LIMITED
8.
EMPLOYEE BENEFITS EXPENSE
Group
2015
2014
$’000
$’000
Wages, salaries and other allowances
24,478
27,309
Severance benefit
–
13
Defined contribution plans
2,135
2,206
26,613
29,528
Less: Employee benefits expense capitalised in:
– Investment properties undergoing development (note 16(e))
–
(15)
26,613
29,513
9.
IMPAIRMENT LOSSES
Group
2015
2014
$’000
$’000
Impairment of associates and joint ventures (note 19)
192
1,219
(Revaluation surplus)/Revaluation deficit of properties
(7)
11
Impairment of available-for-sale investment securities
109
37
294
1,267
10.
FINANCE COSTS
Group
2015
2014
$’000
$’000
Interest on bank loans
13,855
10,219
Interest on debt securities
–
5,281
Fees incurred for credit facilities/debt securities *
1,104
13,659
Interest on loan from a non-controlling shareholder of a subsidiary
627
453
Discount adjustment on provision (note 31)
128
136
15,714
29,748
* The fees incurred for credit facilities/debt securities for 2014 were mainly due to early buy back of debt securities.
