Page 108 - ar2013.pdf

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NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
106
COSCO Corporation (Singapore) Limited
F i nanc i a l Statement s
9.
Income taxes
(continued)
(b)
Movements in current income tax liabilities
The Group
The Company
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Beginning of financial year
10,383
66,460
896
372
Currency translation differences
1,284
(3,514)
–
–
Income tax paid
(11,598)
(82,123)
(12)
(54)
Tax expense on profit for
the current financial year
35,223
69,020
757
643
Over provision in prior financial years
(10,004)
(39,460)
(110)
(65)
End of financial year
25,288
10,383
1,531
896
(c)
The tax (charge)/credit relating to each component of other comprehensive income is as follows:
2013
2012
Before
Tax
Tax
(charge)/
credit
After
Tax
Before
Tax
Tax
(charge)/
credit
After
Tax
$’000
$’000
$’000
$’000
$’000
$’000
Fair value (loss)/gain on available-
for-sale financial assets
(123)
31
(92)
49
(12)
37
Currency translation differences
arising from consolidation
118,317
–
118,317
(92,713)
–
(92,713)
Other comprehensive
income/(loss)
118,194
31
118,225
(92,664)
(12)
(92,676)
10. Earnings per share
(a)
Basic earnings per share
Basic earnings per share is calculated by dividing the net profit attributable to equity holders of the Company
by the weighted average number of ordinary shares outstanding during the financial year.
2013
2012
Net profit attributable to equity holders of the Company ($’000)
30,615
105,685
Weighted average number of ordinary shares
outstanding for basic earnings per share (’000)
2,239,245
2,239,245
Basic earnings per share (cents per share)
1.37
4.72