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PSA International Pte Ltd Annual Report 2010

N otes to the Financial Statements

Year ended 31 December 2010

Tax reconciliation

Profit before income tax Share of profit of associates, net of tax Profit before income tax excluding share of profit of associates, net of tax

Tax calculated using Singapore tax rate of 17% (2009: 17%) Effect of reduction in tax rate Effect of different tax rates in other countries Tax rebates and incentives Income not subject to tax Effect of unrecognised tax benefits Expenses not deductible for tax purposes Over provided in prior years Income tax expense

191,733

147,021

(322)

(9,852)

30,342

15,142

(13,105)

(16,451)

(12,574)

(20,548)

(12,814)

3,689

89,599

82,666

(82,160)

(57,019)

190,699

144,648

1,389,184

1,108,559

(261,343)

(243,728)

1,127,841

864,831

2010 $’000

Group

2009 $’000

30

Operating segments

The Group is organised into business units based on their services and has two reportable operating segments as follows:

  • Port business: The provision of container handling, operation of multi-purpose terminals and other port related

services.

  • Marine business: The provision of marine services.

The Executive Committee and Senior Management Council of the Company monitor the operating results of the business units separately for the purpose of making strategic decisions. Performance is measured based on segment operating profit. Inter-segment pricing is determined on an arm’s length basis.

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