1985 — Page 14

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Notes on the Accounts cont'd

5. Directors' Remuneration

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

As directors

As executives

6.

Taxation

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

7.

Group

1985

1984

1,226

983

2,275

1,904

3,501

2,887

Group

1985

1984

Provision for Hong Kong Profits tax at 18.5% on the

estimated assessable profits of the year

3,089

1,800

Overprovision in respect of previous year

(25)

(116)

3,064

1,684

(b) The liability to taxation represents: -

Group

1985

1984

Estimated liability to profits tax for the year

3,089

1,800

Provisional profits tax paid

(1,355)

(450)

1,734

1,350

Profits tax relating to previous year (overpaid)/payable

(27)

631

1,707

1,981

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.

Group Profit after Taxation

The Group profit after taxation includes an amount of $52,314,000 (1984 - $41,141,000) which has been dealt with in the accounts of the Company.

8.

Earnings per Share

The calculation of earnings per share is based on earnings of $39,261,000 (1984 $41,157,000) and 166,353,948 ordinary shares in issue after the capitalisation issue on 29th April 1985. The earnings per share for 1984 have been adjusted accordingly.