CMB_1992 — Page 19

Notes on The Accounts (Continued)

6. TAXATION

(a) Taxation in the profit and loss accounts represents:-

The group

The company

1992

1991

1992

1991

$000's

$000's

$000's

$000's

Estimated liability to Hong Kong profits tax at 17.5%

(1991: 16.5%) on the assessable profits of the year

20,011

9,874

19,469

9,600

Attributable to extraordinary items (note 7)

(281)

(74)

Attributable to deferred profits

(187)

(50)

19.543

9,874

19,345

9,600

Under provision in respect of previous year

172

9

172

11

19,715

9,883

19,517

9,611

(b) The liability to taxation represents:-

Estimated liability to profits tax for the year

Balance of profits tax provision relating to previous year

20,011

256

9,874 153

19,469

9,600

255

129

20,267

10,027

19,724

9,729

(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

1992

1991

1992

1991

$000's

$000's

$000's

$000's

Depreciation allowances in excess of related depreciation General provisions

32,806

27,576

32,806

27,557

(56,832)

(45,975) (56,832)

(45,972)

Net deferred tax assets unprovided

(24,026)

(18,399)

(24,026) (18,415)

7. EXTRAORDINARY ITEMS

Extraordinary items represent the surpluses attributable to the disposal during the current year of the leasehold land and buildings to an associated company, less attributable tax.

8. DIVIDENDS

Group and company

1992

1991

$000's

$000's

First interim dividend of $0.21 per share paid (1991: $0.21) Special dividend of $3.00 per share paid (1991: $0.05)

9,716

9,716

138,805

2,313

Second interim dividend of $0.28 per share declared (1991: $0.18) Proposed final dividend of $0.70 per share (1991: $0.33)

12,955

8,329

32,388

15,269

193,864

35,627

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