Notes on The Accounts (Continued)
6. TAXATION
(a) Taxation in the profit and loss accounts represents:-
Estimated liability to Hong Kong profits tax at 16.5%
on
the assessable profits of the year
Under provision in respect of previous year
The group
The company
1991
1990
1991
1990
$000's
$000's
$000's
$000's
9,874
13,323
9,600
13,051
9
630
11
630
9,883
13,953
9,611
13,681
(b) The liability to taxation represents :-
Estimated liability to profits tax for the year Balance of profits tax provision relating to previous year
9,874
13,323
9,600
13,051
153
526
129
492
10,027
13,849
9,729
13,543
(c) No provision for deferred taxation is required as there are net deferred tax assets for both the company and the
group.
The
major components of the unprovided deferred tax are:-
The group
The company
1991
1990
1991
1990
$000's
$000's
$000's
$000's
Depreciation allowances in excess of related depreciation
27,576
27,327 27,557
27,314
General provisions
(45,975)
(41,498) (45,972) (41,494)
Net deferred tax assets unprovided
(18,399)
(14,171) (18,415)
(14,180)
7. EXTRAORDINARY ITEM
Extraordinary item represents the surplus on disposal by the subsidiary of certain of its leasehold properties.
8. DIVIDENDS
Group and company
1991
1990
$000's
$000's
First interim dividend of 21 cents per share paid (1990: 21 cents) Special dividend of 5 cents per share paid (1990: 5 cents)
9,716
9,716
2,313
2,313
Second interim dividend of 18 cents per share declared (1990: 18 cents) Proposed final dividend of 33 cents per share (1990: 33 cents)
8,329
8,329
15,269
15,269
35,627
35,627
16