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TEHO INTERNATIONAL INC LTD Annual Report 2012 62
Notes to the
Financial Statements
30 June 2012
31. Operating Lease Income Commitments
At the end of the reporting year, the total of future minimum lease receivables
commitments under non-cancellable operating leases are as follows:
Group
2012
$
2011
$
Not later than one year 30,000 72,000
Later than one year and not later than fve years – 30,000
Rental income for the year 60,000 45,100
Operating lease income commitments are for certain property. The lease rental income
terms are negotiated for an average term of 1 year.
32. Share-Based Payments
32A. Performance Share Plan
The Company’s performance share plan, TEHO Performance Share Plan (the “PSP”),
was approved and adopted by the shareholders at the Company’s Extraordinary General
Meeting held on 25 November 2011. The PSP is administered by the Remuneration
Committee (“RC”) with such discretion, powers and duties as are conferred on it by the
Board of Directors.
The PSP shall continue to be in force at the discretion of the RC, subject to a maximum
period of 10 years commencing from its adoption by the shareholders and may continue
beyond the stipulated period with the approval of the shareholders by an ordinary
resolution in general meeting and of any relevant authorities which may then be required.
Under the rules of the PSP and at the absolute discretion of the RC, confirmed full-time
employees of the Group who are of the age of 18 years and above, and directors of the
Group who have contributed or will contribute to the success and the development of
the Group are eligible to participate in the PSP. However, participation in the PSP by the
directors who are also controlling shareholders and their associates are subject to the
approval by independent shareholders of the Company.
There were no awards granted under the PSP by the Company or any corporation in the
Group since its inception and during the financial year.
There were no shares issued during the financial year by virtue of the exercise of awards
to take up unissued shares of the Company or any corporation in the Group.
32. Share-Based Payments (Continued)
32A. Performance Share Plan (Continued)
There were no unissued shares under the PSP in the Company or any corporation in the
Group as at the end of the financial year.
33. Changes and Adoption of Financial Reporting Standards
For the reporting year ended 30 June 2012 the following new or revised Singapore
Financial Reporting Standards were adopted. The new or revised standards did not
require any modifcation of the measurement methods or the presentation in the fnancial
statements.
FRS No. Title
FRS 1 Presentation of Financial Statements (Amendments to)
FRS 24 Related Party Disclosures (Revised)
FRS 27 Consolidated and Separate Financial Statements (Amendments to)
FRS 34 Interim Financial Reporting (Amendments to)
FRS 103 Business Combinations (Amendments to)
FRS 107 Financial Instruments: Disclosures (Amendments to)
FRS 107 Financial Instruments: Disclosures (Amendments to) - Transfers of Fi-
nancial Assets
INT FRS 113 Customer Loyalty Programmes (Amendments to) (*)
INT FRS 114 Prepayments of a Minimum Funding Requirement (Revised) (*)
INT FRS 115 Agreements for the Construction of Real Estate (*)
(*) Not relevant to the entity.