Notes on the Accounts
3. OPERATING PROFIT
Operating profit is arrived at after charging:
1994
1993
HK$'000
HK$'000
Depreciation
222,619
196,302
Operating lease charges on
- temporary bus depots and terminal shelters
1,411
6,857
- buses
1,271
Auditors' remuneration
757.
734
Interest payable on:
Bank loans and overdrafts repayable
- within 5 years
28,369
26,401
- over 5 years
7,278
Balance of premium on land
4
Annual contributions to retirement schemes
99,341
87,661
Additional provision for staff retirement fund
192,000
126,000
4. EXCEPTIONAL ITEM
Exceptional item represents the surplus arising from the disposal of the Company's property at 81 How Ming Street, Kwun Tong and a portion of the property at 51-53 Kwai Cheong Road, Kwai Chung during the year.
5. DIRECTORS' REMUNERATION
Directors' remuneration disclosed pursuant to Section 161 of the Companies Ordinance is as follows:
1994
HK$'000
1993
HK$'000.
Directors' fees
298
267
Salaries and allowances
4,858
1,851
Discretionary and performance
related bonuses
6,073
1,237
Retirement fund contributions
1,060
125
12,289
3,480
The Kowloon Motor Bus Company (1933) Limited
51