NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
29. Fair value adjustment reserve
Fair value adjustment reserve records the cumulative fair value changes, net of tax, of available-for-sale financial assets until
they are disposed of or impaired.
30. Merger deficit
The merger deficit records the difference between the purchase consideration and the share capital of a subsidiary company
acquired from an entity under common control.
31. Commitments
(a) Operating lease commitments – as lessee
The Group has entered into commercial property leases for its office premises. The leases have tenures ranging from
6 months to 3 years (2013: 6 months to 3 years) with renewal option for 3 years included in the contract. The Group is
restricted from subleasing the leased properties to third parties.
Future minimum rental payable under non-cancellable operating leases at the end of the reporting period are as follows:
Group
2014
2013
S$’000
S$’000
At 1 January
(12)
9
Net gain/(loss) on fair value changes of available-for-sale financial assets during the year
12
(21)
At 31 December
–
(12)
Group
2014
2013
S$’000
S$’000
Not later than one year
214
246
Later than one year but not later than five years
214
429
428
675
Hock Lian Seng Holdings Limited
Annual report 2014
83
