NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 19. INSURANCE AND OTHER PAYABLES (CONTINUED) 2016 Life Insurance Par Fund $’000 Life Insurance Non-Par Fund $’000 Investment- Linked Fund $’000 General Insurance Fund $’000 Share holders' Fund $’000 Total $’000 Outstanding claims 47,501 55,136 – 1,222 – 103,859 Insurance and reinsurance payables 123,579 13,875 479 20,242 10 158,185 Investments and other payables 429,108 10,108 65,083 10,844 29,248 544,391 Contribution to Singapore Labour Foundation – – – – 16,749 16,749 Contribution to Central Co-operative Fund – – – – 25 25 Interfund balances 7,004 23,244 – 80,762 6 111,016 607,192 102,363 65,562 113,070 46,038 934,225 To be settled within 12 months 586,084 84,335 65,562 112,825 46,038 894,844 To be settled after 12 months 21,108 18,028 – 245 – 39,381 607,192 102,363 65,562 113,070 46,038 934,225 At the reporting date, the carrying amounts of insurance and other payables approximate their fair value. 20. SHARE CAPITAL 2017 2016 2017 2016 Number of shares $’000 $’000 Shareholders' Fund Authorised: 100,000,000 common shares of $10 each 100,000,000 100,000,000 1,000,000 1,000,000 Issued and fully paid common shares: At 1 January 65,784,838 63,878,630 657,848 638,787 Issue of shares 33,112,202 2,049,436 331,122 20,493 Redemption of shares (88,773) (143,228) (887) (1,432) At 31 December 98,808,267 65,784,838 988,083 657,848 2017 2016 2017 2016 Number of shares $’000 $’000 Issue of shares Shares issued to employees for long service award 23,610 20,900 236 209 Shares issued for cash in respect of new subscriptions 33,088,592 2,028,536 330,886 20,284 33,112,202 2,049,436 331,122 20,493 The newly issued shares rank pari passu in respect of distribution of dividends and bonus shares with the existing shares. ANNUAL REPORT 2017 EVERY DAY MADE DIFFERENT 115