Singapore Airlines 2008 Annual Report Download - page 124

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Singapore Airlines Annual Report 2007-08
122
16 Other Reserves (in $ million)
(a) Capital reserve
Capital reserve mainly arises from the revaluation of land and buildings owned by RCMS Properties Private Limited, an
associated company.
(b) Foreign currency translation reserve
The foreign currency translation reserve represents exchange differences arising from the translation of the financial
statements of foreign operations whose functional currencies are different from that of the Group’s presentation
currency.
(c) Share-based compensation reserve
Share-based compensation reserve represents the equity-settled share options and awards granted to employees. The
reserve is made up of the cumulative value of services received from employees recorded on grant of equity-settled
share options and awards.
(d) Fair value reserve
Fair value reserve records the cumulative fair value changes of available-for-sale financial assets and the portion of the
fair value changes on derivative financial instruments designated as hedging instruments in cash flow hedges that is
determined to be an effective hedge.
Fair value changes of available-for-sale financial assets:
The Group The Company
31 March 31 March
2008 2007 2008 2007
Balance at 1 April 27.8 9.1 21.9 5.0
Net gain on fair value changes (26.9) 18.7 (22.3) 16.9
Balance at 31 March 0.9 27.8 (0.4) 21.9
Net gain on fair value changes (5.0) 18.7 (0.4) 16.9
Recognised in the profit and loss account
on disposal of available-for-sale investments (21.9) - (21.9) -
(26.9) 18.7 (22.3) 16.9
NOTES TO THE FINANCIAL STATEMENTS
31 March 2008