NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
26. Loans and borrowings
Bank loans
The bank loans are arranged at floating interest rate and are reset at intervals ranging from 1 month to 3 months based on
changes to the banks’ cost of funds. The weighted average interest rates in 2014 ranges from 1.7% to 2.1% (2013: 1.7% to 2.1%)
per annum.
The bank loans are secured by charges over two subsidiary companies’ development properties with a total carrying amount of
S$73,520,000 (2013: S$157,874,000) at the end of the reporting period (Note 16).
27. Share capital
The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All ordinary shares
carry one vote per share without restriction. The ordinary shares have no par value.
28. Capital reserve
Capital reserve records the costs of share-based payments, in the form of 4,000,000 shares transferred from the former
shareholders to certain selected employees of the Group as consideration for their services received, which is measured by
reference to the fair value of the shares at the grant date.
Group
Maturity
2014
2013
(Restated)
S$’000
S$’000
Current:
Bank loans
SGD loan
2015
4,992
–
Non-current:
Bank loans
SGD loan
2016
–
8,978
SGD loan
2015
–
27,948
4,992
36,926
Group and Company
2014
2014
2013
2013
No. of shares
No. of shares
000
S$’000
000
S$’000
Issued and fully paid ordinary shares
At 1 January and 31 December
509,979
58,956
509,979
58,956
Hock Lian Seng Holdings Limited
Annual report 2014
82
