69
/ MTQ CORPORATION LIMITED /
ANNUAL REPORT
2014/2015
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2015
(In Singapore dollars)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
2.33 Related parties (cont’d)
(b)
An entity is related to the Group and the Company if any of the following conditions applies:
(i)
the entity and the Company are members of the same group (which means that each parent,
subsidiary and fellow subsidiary is related to the others).
(ii)
one entity is an associate or joint venture of the other entity (or an associate or joint venture of a
member of a group of which the other entity is a member).
(iii)
both entities are joint ventures of the same third party.
(iv)
one entity is a joint venture of a third entity and the other entity is an associate of the third entity.
(v)
the entity is a post-employment benefit plan for the benefit of employees of either the Company or
an entity related to the Company. If the Company is itself such a plan, the sponsoring employers are
also related to the Company.
(vi)
the entity is controlled or jointly controlled by a person identified in (a).
(vii)
a person identified in (a) (i) has significant influence over the entity or is a member of the key
management personnel of the entity (or of a parent of the entity).
3.
REVENUE
Group
2015
$’000
2014
$’000
Services, repair and contract revenue
241,751
256,866
Trading sales
51,731
48,017
Equipment rental income
2,158
8,261
Net fair value loss on held-for-trading investment securities
–
(39)
Gain on disposal of held-for-trading investment securities
–
225
295,640
313,330
4.
OTHER INCOME
Group
2015
$’000
2014
$’000
Interest income
177
278
(Loss)/gain on disposal of property, plant and equipment
(156)
53
Gain on liquidation of a subsidiary
–
224
Commission received
663
916
Gain on disposal of scraps
153
122
Government grants
302
239
Rental income
3
235
Other income
138
120
1,280
2,187
