For the financial year ended 31 December 2015
95
ANNUAL REPORT 2015
25. COMMITMENTS
(CONTINUED)
(b) Operating lease commitments
(continued)
As a lessor
The Group owns certain investment properties, which are tenanted under non-cancellable lease arrangements.
Future minimum rentals receivable under non-cancellable operating leases contracted for as of 31 December but
not recognised as receivables are as follows:
The Group
2015
2014
$’000
$’000
Within one year
15,920
13,716
Between one year and five years
19,206
10,086
35,126
23,802
26. EMPLOYEE BENEFITS
The Group
2015
2014
$’000
$’000
(a) Staff costs (including Executive Directors):
- salaries, bonuses and other costs
25,722
21,469
- employer’s contribution to Central Provident Fund
and other defined contribution plans
2,212
1,636
- expensing of share options
251
305
28,185
23,410
Key management’s remuneration is disclosed in Note 23.
(b) The Company operates the Haw Par Corporation Group 2002 Share Option Scheme (“2002 Scheme”).
The 2002 Scheme was approved by members of the Company on 22 May 2002 and further extended to 2017
on 20 April 2011.
The 2002 Scheme grants non-transferable options to selected employees and includes the participation by the
non-executive directors. The maximum life-span of exercising the options is 10 years (exercise period). The options
are exercisable beginning on the first anniversary from the date when the options are granted or the second
anniversary if the options are granted at a discount to the market price under the 2002 Scheme. The options may
be exercised in full or in part in respect of 1,000 shares or any multiple thereof, on the payment of the exercise
price. The Group has no legal or constructive obligation to repurchase or settle the options in cash. The exercise
price is equivalent to the average of the last dealt price for the share for five market days immediately before the
offer date (“market price”) at the time of grant and can be set at discounts of up to 20% to the market price
under the 2002 Scheme.
NOT E S TO T H E F I NAN C I A L S TAT EME N T S
(CONTINUED)
