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CapitaLand Limited
Annual Report 2015
Notes to the Financial Statements
These notes form an integral part of the financial statements.
The financial statements were authorised for issue by the Board of Directors on 29 February 2016.
1
Domicile and Activities
CapitaLand Limited (the Company) is incorporated in the Republic of Singapore and has its registered office at
168 Robinson Road, #30-01, Capital Tower, Singapore 068912.
The principal activities of the Company during the financial year are those relating to investment holding and consultancy
services as well as the corporate headquarters which gives direction, provides management support services and
integrates the activities of its subsidiaries.
The principal activities of the significant subsidiaries are those relating to investment holding, real estate development,
investment in real estate financial products and real estate assets, investment advisory and management services as
well as management of serviced residences.
The consolidated financial statements relate to the Company and its subsidiaries (the Group) and the Group’s interests
in associates and joint ventures.
2
Summary of Significant Accounting Policies
2.1 Basis of preparation
The financial statements have been prepared in accordance with the Singapore Financial Reporting Standards (FRS).
The financial statements have been prepared on the historical cost basis except as disclosed in the accounting
policies below.
These financial statements are presented in Singapore Dollars, which is the Company’s functional currency. All financial
information presented in Singapore Dollars have been rounded to the nearest thousand, unless otherwise stated.
The preparation of the financial statements in conformity with FRSs requires management to make judgements,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised and in any future periods affected.
Information about critical judgements in applying accounting policies that have the most significant effect on the
amount recognised in the financial statements are described in the following notes:
Note 2.6, Note 5 – classification of investment properties
Note 6, Note 7
– consolidation; whether the Group has control over an investee
Note 9
– recognition of deferred tax assets
Note 32
– business combinations.
Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material
adjustment within the next financial year are included in the following notes:
Note 4
– measurement of recoverable amounts of goodwill
Note 5, Note 34
– determination of fair value of investment properties
Note 11
– estimation of the percentage of completion of the projects’ attributable profits for development
properties for sale and allowance for foreseeable losses
