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1. GENERAL
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Co-operative (Unique Entity Number S83CS0191L) is incorporated in Singapore with its principal place of business
and registered office at 680, Upper Thomson Road, Singapore 787103. The financial statements are expressed in
Singapore dollars.
The principal activities of the Co-operative are those relating to supermarket, department store and convenience store
retailing and investment holding, with the social mission to contribute towards a reduction in the cost of living in Singapore.
The principal activities of the subsidiaries are disclosed in Note 10.
The consolidated financial statements of the Group and statement of financial position, statement of comprehensive
income and statement of changes in equity of the Co-operative for the year ended March 31, 2013 were authorised for
issue by the Board of Directors on August 5, 2013.
BASIS OF ACCOUNTING
- The financial statements have been prepared in accordance with the historical cost basis,
except as disclosed in the accounting policies below, and are drawn up in accordance with the provisions of the
Co-operative Societies Act, Cap 62, and Singapore Financial Reporting Standards (“FRS”).
ADOPTION OF NEW AND REVISED STANDARDS
- In the current financial year, the Co-operative and the Group have
adopted all the new and revised FRSs and Interpretations of FRS (“INT FRS”) that are relevant to its operations and
effective for annual periods beginning on or after April 1, 2012. The adoption of these new/revised FRSs and INT FRSs
does not result in changes to the Group and the Co-operative’s accounting policies and has no material effect on the
amounts reported for the current and prior years.
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
