Notes on The Accounts (Continued)
6. TAXATION (Continued)
(c) No provision for deferred taxation is required as there are net deferred tax assets for both the
components of the unprovided deferred tax are:-
company and the group.
The major
Group and company
1998
1997
$000's
$000's
Depreciation allowances in excess of related depreciation
39,343
40,917
General provisions:
- major repair to motor buses
- insurance
- employees' retirement schemes
(1,008)
(1,040)
(19,615) (26,941)
(12,579)
(18,907)
-
obsolescence of store and spare parts
(1,092)
(3,187)
- effect of terminating the franchise on 31st August, 1998
(28,391)
- others
(2,051)
438
Net deferred tax assets unprovided
(25,393)
(8,720)
7.
DIVIDENDS
Group and company
1998
1997
$000's
$000's
First interim dividend of $0.10 per share paid (1997: $0.21) Special dividend of $1.80 per share paid (1997: $1.60)
4,627
9,716
83,283
74,029
Second interim dividend of $1.10 per share declared (1997: $0.10)
50,895
4,627
Second special dividend of $nil per share declared (1997: $1.40)
64,776
Proposed final dividend of $0.20 per share (1997: $0.50) Proposed special dividend of $1.20 per share (1997: $2.00)
9,253
23,134
55,522
92,536
203,580
268,818
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