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Notes to the Consolidated Financial Statements

31st March 2015

8 EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) (continued)

Notes:

(a) Defined contribution retirement schemes

Before 1st December 2000, the Group operated a defined contribution retirement scheme (the “ORSO Scheme”) in Hong Kong for all
qualified employees. The rate of contribution payable by the Group was 5% of the individual employee’s basic salaries.

With effect from 1st December 2000, the Mandatory Provident Fund Scheme (the “MPF Scheme”) was set up under the MPF Scheme
Ordinance for existing staff who opted for this scheme and eligible staff recruited on or after that date. The ORSO Scheme has
remained in place with the introduction of the MPF Scheme. Under the MPF Scheme, eligible employees and the Group are each
required to contribute 5% on the employees’ monthly net salaries with a maximum monthly contribution of HK$1,250 (from 1st April
2014 to 31st May 2014) to HK$1,500 (from 1st June 2014 onwards) for employees’ monthly contribution.

Contributions to the ORSO Scheme and MPF Scheme charged to the consolidated income statement for the year amounted to
approximately HK$2,554,000 (2014: HK$2,609,000). No forfeited contribution in respect of the defined contribution retirement
scheme was utilised during the year (2014: Same). Forfeiture contributions of approximately HK$13,000 (2014: HK$13,000) was
available as at 31st March 2015 to reduce future contributions.

Contributions totaling approximately HK$315,000 (2014: HK$301,000) were payable to the ORSO Scheme and MPF Scheme at the
year end and were included in other payables and accruals.

(b) Directors’ and senior management’s emoluments

The remuneration of every director of the Company for the year ended 31st March 2014 is set out below:

Employer’s
contributions
Discretionary to pension
Fee Salary bonuses schemes Total
Name of Director HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
Executive directors:
Mr LEUNG Kai Ching, Kimen – 4,564 1,313 196 6,073
Mr LEUNG Wai Sing, Wilson – 4,564 1,400 196 6,160
Mr KUOK Kun Man, Andrew – 1,921 787 82 2,790
Mr LEUNG, Jimmy – 478 – 8 486
Mr LIU Lup Man – 376 – 8 384
Independent non-executive directors:
Mr LI Wah Ming, Fred 120 – – 6 126
Mr LAU Wang Yip, Derrick 120 – – 6 126
Mr LEE Tak Chi 120 – – – 120

64 ALCO HOLDINGS LIMITED ANNUAL REPORT 2015