NTUC Income AR 2018

Notes to the Financial Statements For the Financial Year Ended 31 December 2018 6. Intangible assets 2018 $’000 2017 $’000 Life Insurance Par Fund Cost At 1 January 132,722 110,889 Additions 20,344 21,833 At 31 December 153,066 132,722 Accumulated amortisation At 1 January 90,184 77,803 Charge for the year 14,133 12,381 At 31 December 104,317 90,184 Carrying amount at 31 December 48,749 42,538 Life Insurance Non-Par Fund Cost At 1 January 14,529 14,414 Additions 120 115 At 31 December 14,649 14,529 Accumulated amortisation At 1 January 13,999 12,758 Charge for the year 381 1,241 At 31 December 14,380 13,999 Carrying amount at 31 December 269 530 2018 $’000 2017 $’000 Shareholders’ Fund Cost At 1 January 2,808 – Additions 5,626 2,808 At 31 December 8,434 2,808 Accumulated amortisation At 1 January – – Charge for the year 746 – At 31 December 746 – Carrying amount at 31 December 7,688 2,808 Amortisation expense is included in “Management expenses” in the statement of comprehensive income. 95 2018 ANNUAL REPORT