Page 104 - TreasuryChinaTrust2011

102
Notes to the Financial Statements
25 AMOUNT AVAILABLE FOR DISTRIBUTION
Year ended
31/12/2011
Period from
19/5/2010 to
31/12/2010
$’000 $’000
Reconciliation from net profit to distribution to Unitholders
Amount from operations available for distribution
at the beginning of the year/period – –
Profit after income tax 136,061 39,610
Distribution adjustments (Note A) (138,942) (35,510)
Amount from operations available for distribution to Unitholders (2,881) 4,100
Realised gains available for distribution to Unitholders (Note B) 24,898 26,803
Less: Distribution made during the year/period (19,096) (6,005)
Amount available for distribution at the end of the year/period 2,921 24,898
For the year ended 31 December 2011, an interim distribution of 5 cents per unit was approved by the Board of
Directors of the Trustee-Manager. The said distribution of $12.7 million was paid in September 2011. The distributions
for the year/period comprise:
Year ended
31/12/2011
Period from
19/5/2010 to
31/12/2010
$’000 $’000
Distribution from operations – 4,100
Distribution from realised gains (Note B) 12,690 8,311
12,690 12,411
Note A:
Adjustment items
– Depreciation of property, plant and equipment 339 121
– Deferred tax expense 62,607 12,205
– Amortisation of transaction costs for bank loans and convertible debt securities 3,561 –
– Difference between the convertible debt interests
at the effective interest rates and at the nominal interest rates 5,697 –
– Unrealised foreign exchange loss/(gain) 5,159 (4,133)
– Changes in fair value of investment properties (216,242) (33,040)
– Changes in fair value of financial derivatives (360) (1,552)
– Realised gains on settlement of financial derivatives – (9,479)
– Equity-settled unit-based expenses 297 368
Distribution adjustments (138,942) (35,510)
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