NOTES ON THE ACCOUNTS
16. STAFF RETIREMENT FUND
1991
HK$'000
1990
HK$'000
Balance at 1st January
19,533
31,035
Transfer from profit and loss account
128,108
63,778
147,641
94,813
Payments during year
Balance at 31st December
(80,541)
(75,280)
67,100
19.533
The deferred liability in 1991 represented the provision for the improvement of the benefit factor under an approved retirement scheme for the Company's employees.
The amount in 1990 represented the balance of the initial contribution to the retirement fund payable by the Company under an approved retirement scheme for the Company's daily-rated employees.
17. BANK LOANS, OVERDRAFTS AND OTHER BORROWINGS
46
Bank loans and overdrafts (Note 17a)
Other borrowings (Note 17b)
(a) Bank loans and overdrafts are repayable as follows :
Within 1 year and included in current
liabilities
After 1 year and included in long term
liabilities
-between 1 and 2 years --between 2 and 5 years
-over 5 years
1991
1990
HK$'000
HK$'000
407,997
326,814
133,657
119,587
541,654
446,401
91,835
106,362
86,467
63,608
148,266
116,844
81,429
40,000
316,162
220,452
407,997
326,814
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NOTES ON THE ACCOUNTS
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