1984 — Page 14

Notes on the Accounts cont'd

4. Directors' Remuneration

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

Group

1984

1983

As directors

As executives

983

770

1,904

1,543

2,887

2,313

5.

Taxation

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

Group

1984

1983

Provision for Hong Kong profits tax at

18.5% (1983 - 16.5%) on the estimated assessable profits of the year Overprovision in respect of previous year

1,800

1,432

(116)

(2)

1,684

1,430

(b) The liability to taxation represents:-

Group

1984

1983

Estimated liability to profits tax for the year

Provisional profits tax paid

1,490

1,432

(230)

1,490

1,202

Balance of profits tax provision relating to previous year

631

55

2,121

1,257

No provision for taxation is required in the accounts of the parent company due to the existence of agreed carried forward losses from previous years.

6.

Group Profit after Taxation

The Group profit after taxation includes an amount of $41,141,000 (1983 - $29,358,000) which has been dealt with in the accounts of the Company.

7.

Prior Year Adjustments

8.

Company

Group

1984

1983

1984

1983

Adjustment of exchange difference

previously capitalised

(2,032)

(2,032)

Adjustment of share of the post

acquisition (losses)/profits of associates

(3,656)

1,379

Adjustment of unrealised profit on sale of

fixed assets by a subsidiary to an

associated company

(2,032)

(84)

(5,772)

1,379

Earnings per Share

The calculation of earnings per share is based on earnings of $41,157,000 (1983 $24,584,000) and 138,628,290 ordinary shares in issue throughout both years.