1
GENERAL
The Company (Registration No. 200601911K) is incorporated in the Republic of Singapore with its principal place of
business and registered office at 9 Temasek Boulevard, #36-02 Suntec Tower Two, Singapore 038989. The Company
is listed on the Singapore Exchange Securities Trading Limited. The financial statements are expressed in Renminbi
(“RMB”).
The principal activity of the Company is to carry on the business of an investment holding company and procurer of
funds.
The principal activities of the subsidiaries are disclosed in Note 10 to the financial statements.
The consolidated financial statements of the Group and statement of financial position and statement of changes in
equity of the Company for the financial year ended December 31, 2015 were authorised for issue by the Board of
Directors on March 29, 2016.
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING – The financial statements are prepared in accordance with the historical cost basis
except as disclosed in the accounting policies below, and are drawn up in accordance with the provisions of the
Singapore Companies Act and Singapore Financial Reporting Standards (“FRS”).
Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes
into account the characteristics of the asset or liability which market participants would take into account when
pricing the asset or liability at the measurement date. Fair value for measurement and / or disclosure purposes in
these consolidated financial statements is determined on such a basis, except for leasing transactions that are within
the scope of FRS 17
Leases
, and measurements that have some similarities to fair value but are not fair value, such as
net realisable value in FRS 2
Inventories
or value in use in FRS 36
Impairment of Assets
.
In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on
the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the
fair value measurement in its entirety, which are described as follows:
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can access at the measurement date;
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liability, either directly or indirectly; and
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ADOPTION OF NEW AND REVISED STANDARDS – On January 1, 2015, the Group adopted all the new and
revised FRSs and Interpretations of FRS (“INT FRS”) that are effective from that date and are relevant to its operations.
The adoption of these new / revised FRSs and INT FRS does not result in changes to the Group’s and the Company’s
accounting policies and has no material effect on the amounts reported for the current or prior years.
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
65
