149
COSCO Corporation (Singapore) Limited
Annual Report 2015
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
Financial Statements
35. Related party transactions
(continued)
(c)
Key management personnel compensation
Key management personnel compensation is as follows:
The Group
2015
2014
$’000
$’000
Salaries and other short-term employee benefits
2,663
2,806
Directors’ fees of the Company
244
305
Employer’s contribution to defined contribution plans including
Central Provident Fund
10
9
2,917
3,120
Included in the above was total compensation to directors of the Company amounting to
$2,609,000 (2014: $2,808,000).
36. 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.
