CMB_1997 — Page 28

Notes on The Accounts (Continued)

4.

EXCEPTIONAL NON CASH ITEMS

The group

The company

1997

1996

1997

1996

$000's

$000's

$000's

$000's

Recognition of deferred profits (note 16)

264,702

187,751

Provision for insurance written back (note 18)

74,500

74,500

339,202

262,251

5.

DIRECTORS' REMUNERATION

Directors' remuneration disclosed pursuant to section 161 of the Companies Ordinance is as follows:-

Fees

Bonus in accordance with article 155

Salaries, allowances and other benefits

Retirement schemes contribution

1997

1996

$000's

$000's

55

55

1,488

1,727

8,358

8,019

264

264

10,165

10,065

Fees and other emoluments in respect of independent non-executive directors for the year ended 30th June, 1997 amounted to HK$435,162 (1996: $503,399).

6. TAXATION

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

The group

The company

1997

1996

1997

1996

$000's

$000's

$000's

$000's

Estimated liability to Hong Kong profits tax at 16.5%

(1996: 16.5%) on the assessable profits of the year Under/(over) provision in respect of previous year Share of taxation of associated companies

1,361

1,653

1,206

1,527

28

(46)

31

(46)

463,504

464,893

1,607

1,237

1,481

(b) The liability to taxation represents:-

Estimated liability to profits tax for the year

1,361

1,653

1,206

1,527

Balance of profits tax provision relating to previous year

2

3,872

3,832

1,363

5,525

1,206

5,359

22

: