HAW PAR CORPORATION LIMITED
92
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the financial year ended 31 December 2014
22. RELATED PARTY TRANSACTIONS
(CONTINUED)
(b)
Key management’s remuneration
The key management’s remuneration includes fees, salary, bonus, commission and other emoluments (including
benefits-in-kind) computed based on the cost incurred by the Group and the Company, and where the Group or
Company do not incur any costs, the value of the benefit. The key management’s remuneration is as follows:
The Group
2014
$’000
2013
$’000
Directors’ fees, salaries and other short-term employee benefits
4,288
3,752
Employer’s contribution to Central Provident Fund and other
defined contribution plans
96
90
Share options granted
162
128
4,546
3,970
Total compensation to Directors of the Company included in the above amounted to $2,304,000 (2013:
$2,130,000).
(c)
Purchase of shares in an associated company
In the current financial year, an Executive Director and a key management personnel, who are nominee directors
in an associated company, were granted share options by the associated company. Upon exercising the share
options, the shares were sold by the nominee directors to the Group at cost of approximately $1,574,000.
23. CONTINGENT LIABILITIES
Contingent liabilities relating to guarantees are:
The Company
2014
$’000
2013
$’000
In respect of guarantees given to banks in connection
with facilities granted to subsidiaries
68
68
24. COMMITMENTS
(a)
Capital commitments
The Group
The Company
2014
$’000
2013
$’000
2014
$’000
2013
$’000
Capital commitments authorised and contracted
but not provided for in the consolidated
financial statements
340
746
–
–
The capital commitments above relate to construction of/purchases of property, plant and equipment and
improvements to investment properties.
