85
SUNMOON FOOD COMPANY LIMITED
ANNUAL REPORT 2015
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
24.
SIGNIFICANT RELATED PARTY TRANSACTIONS
(CONTINUED)
Compensation of key management personnel
The remuneration of Directors and other key management personnel of the Group during the financial year are as follows:
Group
2015
2014
$’000
$’000
Directors’ fees
124
156
Short-term benefits
1,664
1,630
Post-employment benefits
90
79
1,878
1,865
The above includes the following remuneration to the Directors of the Company:
Group
2015
2014
$’000
$’000
Directors of the Company
Directors’ fees
124
156
Short-term benefits
488
393
Post-employment benefits
14
14
626
563
Other key management comprises the Chief Executive Officer, Chief Financial Officer, Financial Controller and
General Managers.
25.
FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT
The Group’s and the Company’s activities expose them to credit risks, market risks (including foreign currency risks
and interest rates risks) and liquidity risks. The Group’s and the Company’s overall risk management strategy seeks to
minimise adverse effects from the volatility of financial markets on the Group’s and the Company’s financial performance.
The Board of Directors is responsible for setting the objectives and underlying principles of financial risk management
for the Group and the Company. Management then establishes the detailed policies such as risk identification and
measurement, exposure limits and hedging strategies, in accordance with the objectives and underlying principles
approved by the Board of Directors.
There has been no change to the Group’s and the Company’s exposure to these financial risks or the manner in
which the risk is managed and measured. The Group and the Company do not hold or issue derivative financial
instruments for trading purposes or to hedge against fluctuations, if any, in interest rates and foreign exchange rates.
