N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
Year ended 31 March 2015
25 Finance income and finance costs
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Interest income
6,272
10,744
6,669
10,638
Change in fair value of debt securities
–
1,289
–
1,289
Change in fair value of ECS
–
18,426
–
–
Change in fair value of collateral loan
–
–
–
18,426
Net accretion adjustments for security deposits
2,001
–
1,693
–
Finance income
8,273
30,459
8,362
30,353
Interest expense
71,771
65,246
70,977
64,422
Amortisation of transaction costs
373
715
373
715
Net accretion adjustments for security deposits
–
437
–
597
Change in fair value of debt securities
16,574
–
16,574
–
Change in fair value of ECS
24,933
–
–
–
Change in fair value of collateral loan
–
–
24,933
–
Finance costs
113,651
66,398 112,857
65,734
26 Tax expense
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Current tax expense
Current year
3,925
2,056
2,434
1,703
Deferred tax expense
Origination and reversal of temporary differences
2,818
21,188
–
–
Tax expense
6,743
23,244
2,434
1,703
Reconciliation of effective tax rate
Total return for the year before tax
404,348 505,088 344,939 428,365
Tax calculated using Singapore tax rate of 17% (2014: 17%)
68,739
85,865
58,640
72,822
Effect of different tax rate in foreign jurisdiction
1,422
7,071
–
–
Non-tax deductible items, net
9,476
4,786
9,476
4,786
Income not subject to tax
(14,274)
(17,204)
(7,062)
(18,631)
Tax transparency
(58,620)
(57,274)
(58,620)
(57,274)
6,743
23,244
2,434
1,703
178 179
