Notes to the Financial Statements
(Cont’d)
For the year ended 30 April 2015
(In Singapore Dollars)
ANNUAL REPORT 2015
86
BUILDING ON OUR EXTENSIVE NETWORK
30. Reserves – Group and Company
(a)
Capital reserve
Capital reserve represents proceeds from issuance of warrants and non-distributable amounts set
aside in compliance with local laws of certain overseas subsidiary company.
(b)
Employee share option reserve
Employee share option reserve represents the fair value of equity-settled share options granted to
employees (Note 7). The reserve is made up of the accumulated value of services received from
employees recorded on grant of equity-settled share options.
(c)
Revenue reserve
This represents the accumulated profits less distributions made to the shareholders of the Company.
(d)
Foreign currency translation reserve
This comprises foreign exchange differences arising from the translation of the financial statements
of overseas subsidiary, associated and joint venture companies and from the translation of long-
term inter-company advances which are effectively part of net investments in the subsidiary
companies.
(e)
Discount on acquisition of non-controlling interest
The discount on acquisition of non-controlling interest represents the difference between the
amount by which the non-controlling interest is adjusted and the fair value of the consideration
paid that is recognised directly in equity and attributed to the parent. Such changes in the
Company’s ownership interest in a subsidiary that do not result in a loss of control are accounted for
as equity transactions.
The movement in the reserves are shown in the statements of changes in equity.
31. Dividend
Group and Company
2015
2014
$’000
$’000
Final exempt (one-tier) dividend of 1.5 cent (2014: 1.5 cent), per share in
respect of the previous financial year
3,534
3,534
Dividend declared and paid during the year
3,534
3,534
The directors have proposed a final exempt (one-tier) dividend of 1.0 cent (2014: 1.5 cent) per share
amounting to approximately $2,356,000 (2014: $3,534,000) to be paid in respect of the financial year
ended 30 April 2015. The dividend will be recorded as a liability on the balance sheets of the Company
and Group upon approval by the shareholders of the Company at the next Annual General Meeting of
the Company.
