defined contribution plans
As required by law, the Group makes contribution to defined contribution plans in the countries
which they operate in. In particular, the Singapore companies in the Group make contributions
to the Central Provident Fund Scheme in Singapore, a defined contribution pension scheme.
Such contributions are recognised as an expense in the period in which the related service is
performed.
(b) employee leave entitlements
Employee entitlements to annual leave are recognised as a liability when they accrue to the
employees. The estimated liability for leave is recognised for services rendered by employees
up to the end of the reporting period.
(c) long service leave
The liability for long service leave is accrued and measured at the present value of expected
future payments to be made in respect of services provided by employees up to the reporting
date using the projected unit credit method. Consideration is given to expected future wage
and salary levels, experience of employee departures, and periods of service. Expected future
payments are discounted using market yields at the reporting date on national government
bonds with terms to maturity and currencies that match, as closely as possible, the estimated
future cash outflows.
(d) retention payment
The Group provides benefits to employees in the form of retention payments for certain
employees after achieving a stipulated length of service. The liability for these payments is
recognised in respect of such employees’ service up to the reporting date.
(e) equity compensation plans
Employees of the Group receive remuneration in the form of share options and share awards
as consideration for services rendered.
Certain employees of the Group are eligible to participate in the Pre-IPO Tiger Aviation Share
Options Scheme (the “Scheme”). The Scheme was approved by the Board of Directors of the
Company on 24 April 2008. The Scheme has been terminated since the initial public offering
of the Company’s shares on 22 January 2010 and no further options will be granted under the
Scheme.