Page 49 - Annual Report 2017

December 31 , 2017
(expressed in United States Dollars)

2017 2016
$ $
13 General and administrative expenses

Employee benefit expense (Note 14) 493,856 492,762
Board expenses 79,455 57,304
Utilities 59,543 62,106
Depreciation (Note 9 and 10) 59,139 60,650
Equipment, repairs and maintenance 40,060 57,200
Other expenses 24,334 24,622
Insu rance and licence tees 17,922 18,335
Legal and professional fees 17,062 36,368
Training expenses 15,11 3 6,601
Bank charges 13,360 13,009
Bad debts 12,000 9,725
Printing, postage and stationery 7,584 21 ,289
Motor and travel 6,807 5,659
Publication expenses 6,181 5,797
Advertising and promotion 573 8,846

852,989 880,273
14 Employee benefit expense

Salaries and wages 43Q,487 431,327
Social security (osts 11,318 10,635
Other staff costs 52,051 50,800
493,856 492,762

15 Other income - net

Rentai income (Note 10) 61 ,806 67,374
Administrative fee (Note 12) 10,000 10,000
Foreign exchange 1055 - net (6,948) (3,573)
Miscellaneous - net 9,621 28,089
74,479 101,890

16 Finance cost - net
Interest expense (Note 12)
Interest incorne (20,457) (23,244)
(20,457) (23,244)

17 Related party transactions
Key management compensation
Key management comprises directors, divisional management, and senior management of the Company. Compensation of key
management personnel were as follows:

Salaries and other short-term employee benefits 272,780 280,266
Other benefits 61 ,074 49,405

333,854 329,671