FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
101
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONT’D)
28 DEFERRED INCOME TAX (CONT’D)
Deferred income tax assets (Cont’d)
The estimated amount of unutilised tax losses, unutilised capital allowances and unutilised reinvestment allowances,
pending agreement with the relevant tax authorities in the countries in which the Group operates, for which the
related income tax effects have not been accounted for are as follows:
The Group
2015
$’000
2014
$’000
Unutilised tax losses
13,723
15,763
Unutilised capital allowances
14,220
14,233
Unutilised reinvestment allowances
8,663
9,947
The above unutilised tax losses, unutilised capital allowances and unutilised reinvestment allowances have no expiry
dates. No deferred tax asset has been recognised in respect of the amounts above due to the unpredictability of future
profit streams.
At the end of the reporting period, the aggregate amount of temporary differences associated with unremitted earnings
of subsidiaries for which deferred tax liabilities have not been recognised is $15,772,000 (2014 : $13,630,000). No
liability has been recognised in respect of these differences because the Group is in a position to control the timing of
the reversal of the temporary differences and it is probable that such differences will not reverse in the foreseeable
future.
29 SHARE CAPITAL, TREASURY SHARES AND SHARE-BASED PAYMENTS
Issued
share capital
Treasury
shares
Issued
share
capital
Treasury
shares
Number of ordinary share
$’000
$’000
Group and Company
2015
Beginning of the financial year
404,472,409
-
99,627
-
Exercise of share options
190,000
-
32
-
End of financial year
404,662,409
-
99,659
-
2014
Beginning of the financial year
403,918,409 (5,651,000)
99,538
(1,411)
Exercise of share options
554,000
5,651,000
89
1,411
End of financial year
404,472,409
-
99,627
-
The Company has one class of ordinary shares which carries no right to fixed income.
All issued shares are fully paid. There is no par value for these ordinary shares and there is no authorised share capital.
The holders of ordinary shares of the Company are entitled to receive dividends as and when declared by the Company.
All ordinary shares of the Company carry one vote per share without restriction.
