MISC BERHAD - Annual Report 2014 p 310 40. Discontinued operations (cont’d.) Financial statement disclosures (cont’d.) (d) Staff costs Group Corporation 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Wages, salaries and bonuses – 491 – 176 Contributions to defined contribution plans – 55 – 12 Social security costs – 1 – – Other staff related expenses – 632 – 467 (Note 40(c)) – 1,179 – 655 41. Significant events (a) In the current financial year, a joint venture entity of the Group, VTTI B.V. (“VTTI”) formed a Master Limited Partnership (“MLP”), VTTI Energy Partners LP (“VTTI Energy”), to own, operate, develop and acquire refined petroleum product and crude oil terminalling and related energy infrastructure assets. On 1 August 2014, VTTI Energy completed its initial public offering (“IPO”) with the sale and issuance of 17,500,000 common units representing limited partner interests in VTTI Energy at USD21.00 per common unit. The common units commenced trading on the New York Stock Exchange under the ticker symbol “VTTI”. (b) The Corporation entered into an Agreement for Sale and Purchase of Shares with MMC Ventures Sdn Bhd (“MMCV”), a wholly-owned subsidiary of MMC Corporation Berhad (“MMC”), on 27 November 2014 for the disposal of 15.73% equity interest held by MISC in NCB Holdings Berhad (“NCB”) to MMCV, comprising 73,991,679 issued and paid-up ordinary shares for a total cash consideration of RM221.98 million. The disposal was completed on 2 December 2014 and the Corporation recognised a gain on disposal amounting to RM79,338,000. NOTESTOTHE FINANCIAL STATEMENTS - 31 December 2014
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