CMB_1997 — Page 29

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 company and the group. The major

components of the unprovided deferred tax are:-

Depreciation allowances in excess of related depreciation

General provisions:

- major repair to motor buses

- insurance

employees' retirement schemes

obsolescence of store and spare parts others

Net deferred tax assets unprovided

7. DIVIDENDS

Group and company

1997

1996

$000's

$000's

40,917

46,386

(1,040)

(1,040)

(26,941)

(41,921)

(18,907)

(16,030)

(3,187)

(2,787)

438

2.50

(8,720)

(15,142)

Group and company

1997

1996

$000's

$000's

First interim dividend of $0.21 per share paid (1996: $0.21)

9,716

9,716

Special dividend of $1.60 per share paid (1996: $0.16)

74,029

7,403

Second interim dividend of $0.10 per share declared (1996: $0.10)

4,627

4,627

Second special dividend of $1.40 per share declared (1996: $0.55) Proposed final dividend of $0.50 per share (1996: $0.76) Proposed special dividend of $2.00 per share (1996: $2.00)

64,776

25,447

23,134

35,164

92,536

92,536

268,818

174,893

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