NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
142
COSCO Corporation (Singapore) Limited
36.
Related party transactions
(continued)
(b)
Share options granted to key management and non-executive directors
There were no share options granted to key management and non-executive directors of the Group
during 2014 and 2013. The share options were given on the same terms and conditions as those
offered to other employees of the Company (Note 30). There were no outstanding number of share
options granted to key management of the Group at the end of the financial year 2014 and 2013.
(c)
Key management personnel compensation
Key management personnel compensation is as follows:
The Group
2014
2013
$’000
$’000
Salaries and other short-term employee benefits
2,806
3,045
Directors’ fees of the Company
305
305
Employer’s contribution to defined contribution plans including
Central Provident Fund
9
9
3,120
3,359
Included in the above was total compensation to directors of the Company amounting to $2,808,000
(2013: $3,014,000).
37.
Segment information
Management has determined the operating segments based on the reports reviewed by the key
management that are used to make strategic decisions.
The key management considers the business from the business segment perspective. The segment in the
People’s Republic of China derives revenue from ship repair, ship building and marine engineering activities.
On the other hand, the segments in Singapore derive revenue from shipping, ship repair and marine
engineering.
