72
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
9.
Income taxes
(continued)
The tax on the Group’s profit before income tax differs from the theoretical amount that would arise
using the Singapore standard rate of income tax as follows:
Group
2014
2013
$’000
$’000
Profit before income tax
19,933
16,850
Tax calculated at tax rate of 17% (2013: 17%)
3,389
2,864
Effects of:
- different tax rates in other countries
24
50
- statutory tax exemption
(130)
(52)
- tax incentive under Productivity and Innovation Credit
(822)
(3,272)
- expenses not deductible for tax purposes
749
817
- income not subject to tax
(723)
(957)
- deferred income tax asset not recognised
(282)
–
- tax rebate
(150)
(39)
- other
–
27
2,055
(562)
10.
Earnings per share
(a)
Basic earnings per share
Basic earnings per share is calculated by dividing the net profit attributable to equity holders
of the Company by the weighted average number of ordinary shares outstanding during the
financial year.
Group
2014
2013
Net profit attributable to equity holders of the Company ($’000)
17,460
15,721
Weighted average number of ordinary shares outstanding for
basic earnings per share (’000)
345,320
330,029
Basic earnings per share (cents per share)
5.06
4.76
(b)
Diluted earnings per share
For the purpose of calculating diluted earnings per share, profit attributable to equity holders
of the Company and the weighted average number of ordinary shares outstanding are
adjusted for the effects of all dilutive potential ordinary shares.
The Company has Permance Share Award as dilutive ordinary shares.
The weighted average number of shares on issue has been adjusted as if all dilutive
performance shares were outstanding on the grant date. The number of shares that could
have been issued were based on the weighted average of the closing market prices of the
Shares over the last 5 market days immediately preceding the grant date.
