Excel Force MSC Berhad Annual Report 2015

NOTES TO THE FINANCIAL STATEMENTS 31 December 2015 (cont’d) E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 89 25. PROFIT BEFORE TAX Group Company 2015 2014 2015 2014 Note RM RM RM RM Profit before tax is arrived at after charging: Amortisation of product development costs 8 1,429,000 996,119 1,055,332 778,826 Auditors’ remuneration Statutory: - current year 57,500 54,500 47,000 46,000 - under-provision in prior year 1,000 - - - Other services: - current year 4,500 7,100 4,500 4,500 - under-provision in prior year 600 - - - Depreciation of property, plant and equipment 7 1,503,938 1,414,768 1,414,515 1,373,330 Directors’ remuneration - fees 421,000 321,900 348,000 321,900 - other emoluments 1,490,986 1,247,914 1,013,327 996,172 Rental of premises - 5,880 - - Interest expense on: - hire purchase and finance lease liabilities 24 597 8,876 597 8,876 - term loan 24 - 916 - 916 Loss on disposal of property, plant and equipment 422 10,018 - 10,018 Product development costs written off 8 - 451,304 - 451,304 Property, plant and equipment written off 7 1,468 1,622 70 1,449 Realised loss on foreign exchange - 6,528 - 6,528 And crediting: Gain on disposal of property, plant and equipment (22,098) (1,392,668) (22,098) (1,392,668) Interest income from: - deposits with licensed banks (4,156) (1,901) (1,036) (1,196) - short term funds (347,427) (317,521) (338,794) (317,521) - amount owing by a subsidiary - - (105,744) (105,743) Gain on foreign exchange: - realised (27,894) (1,187) (27,894) (1,187) - unrealised (64,783) (28,668) (64,783) (28,668) Management fee received/ receivable from subsidiary companies - - (89,680) - Rental income from building (40,000) - (40,000) -