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SEE HUP SENG LIMITED
Annual Report 2012
60
Notes to the Financial Statements
31 DECEMBER 2012
5 Profit before Income Tax
Group
2012 2011
S$’000 S$’000
Except as disclosed elsewhere in the notes to the financial statements,
profit before income tax is arrived at after crediting/(charging)
the followings:
Included in cost of sales:
Purchase of goods (204,644) (193,583)
Depreciation of property, plant and equipment (1,820) (1,554)
Staff costs:
– Salaries (2,228) (1,949)
– Defined contribution plan (32) (46)
Included in administrative expenses:
Directors’ fees (156) (185)
Directors remuneration
– Salaries and bonus (2,858) (2,312)
– Defined contribution plan (42) (57)
Staff costs:
– Salaries (7,001) (6,365)
– Defined contribution plan (721) (646)
Commercial car expenses (482) (435)
Workman and staff insurance (201) (211)
Included in other operating expenses:
Allowance for impairment for stock obsolescence (555) (74)
Amortisation of intangible assets (5) –
Impairment of goodwill (454) –
General repair and maintenance expenses (418) (405)
Audit fees (214) (169)
Utilities (1,854) (1,829)
Reversal of impairment of stock obsolescence 38 169
Bad debts written-off (52) (12)
Depreciation of property, plant and equipment (1,503) (1,275)
Inventory written off (144) (127)
Professional fees (518) (295)
Property, plant and equipment written off (370) (9)
Allowance for impairment – trade receivables (327) (181)
Reversal of impairment – trade receivables 130 45
Rental expense – operating lease (1,088) (892)
Foreign exchange loss (net) (286) (473)
No non-audit service fees have been paid to the auditors of the Group and Company for the years ended
31 December 2012 and 2011.