NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
104
COSCO Corporation (Singapore) Limited
7.
Other income and other gains and losses
(a)
Other income
The Group
2014
2013
$’000
$’000
Compensation received from customers
374
17,452
Dividend income
725
503
Government grants
5,999
14,678
Interest income
45,807
44,712
Rental income
2,960
2,379
Sale of scrap materials
43,543
44,178
Sundry income
7,538
3,654
106,946
127,556
(b)
Other gains and losses
The Group
2014
2013
$’000
$’000
Currency exchange gain/(loss) – net
6,737
(18,933)
Fair value (losses)/gains on forward currency contracts
(759)
750
(Loss)/gain on disposal of property, plant and equipment
(456)
666
(Loss)/gain on sale of bunker stock
(486)
99
5,036
(17,418)
Other income and other gains and losses
111,982
110,138
8.
Finance expenses
The Group
2014
2013
$’000
$’000
Interest expense
- Bank borrowings and bills payable
128,028
109,829
- Loan from a fellow subsidiary
52
1,330
Total interest expense
128,080
111,159
Less: Amount capitalised in construction of property,
plant and equipment (Note 23)
(383)
(314)
Finance expenses recognised in profit or loss
127,697
110,845
