Page 81 - 00_See Hup Seng_Cover.indd

SEE HUP SENG LIMITED
Annual Report 2012
79
Notes to the Financial Statements
31 DECEMBER 2012
26 Deferred Income Tax
Group Company
2012 2011 2012 2011
S$’000 S$’000 S$’000 S$’000
At the beginning of the financial year 1,248 1,248 545 545
Acquisition of subsidiary 3 – – –
Additions 8 – – –
At the end of the financial year 1,259 1,248 545 545
Deferred tax liabilities 1,821 1,810 1,107 1,107
Deferred tax assets (562) (562) (562) (562)
1,259 1,248 545 545
The deferred tax liabilities relate to temporary differences arising from the excess of the net book value over
the tax written down value of property, plant and equipment of S$907,000 (2011: S$896,000) and revaluation
to fair value of leasehold buildings of S$914,000 (2011:S$914,000). The deferred tax asset relates to the tax
effect of the provisions.
At the balance sheet date, no deferred tax liability (2011: S$ Nil) has been recognised for taxes that would be
payable on the undistributed earnings of certain of the Group’s subsidiaries as the Group has determined that
the undistributed earnings of its subsidiaries will not be distributed in the foreseeable future. Such temporary
differences for which no deferred tax liability has been recognised aggregate to S$724,232 (2011: S$417,089)
and the attributable deferred tax liability is estimated to be S$101,393 (2011: S$58,392).
27 Treasury Shares
Group Company
2012 2011 2012 2011
S$’000 S$’000 S$’000 S$’000
Treasury shares purchased (3,226) (751) (3,226) (751)
28 Share Capital
Group and Company
2012 2011
S$’000 S$’000
Issued and fully paid, with no par value:
At the beginning of the year – 411,041,600 ordinary shares
(2011: 411,041,600 ordinary shares) 89,388 89,388
Issuance of 23,190,525 ordinary shares (2011: Nil ordinary shares)
pursuant to the exercise of warrants 5,565 –
At the end of the year – 421,442,125 ordinary shares
(2011: 411,041,600 ordinary shares) 94,953 89,388
The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All
ordinary shares carry one vote per share without restriction, except for treasury shares.