NOTES TO
FINANCIAL STATEMENTS
53
GDS Global Limited Annual Report 2015
As at 30 September 2015
1
GENERAL
The Company (Registration Number 201217895H) is incorporated in the Republic of Singapore
with its principal place of business and registered office at 86 International Road, Singapore
629176. The Company was listed on Catalist, the sponsor-supervised board of the Singapore
Exchange Securities Trading Limited (“SGX-ST”) on 19 April 2013. The financial statements are
expressed in Singapore dollars.
The principal activity of the Company is that of investment holding.
The principal activities of the subsidiaries are disclosed in Note 11 to the financial statements.
The consolidated financial statements of the Group and statement of financial position and
statement of changes in equity of the Company for the financial year ended 30 September 2015
were authorised for issue by the board of directors on 11 December 2015.
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 Singapore Companies Act and Singapore Financial Reporting
Standards (“FRS”).
Historical cost is generally based on the fair value of the consideration given in exchange for goods
and services.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date, regardless of whether
that price is directly observable or estimated using another valuation technique. In estimating the
fair value of an asset or a liability, the Group takes into account the characteristics of the asset or
liability which market participants would take into account when pricing the asset or liability at the
measurement date. Fair value for measurement and/or disclosure purposes in these consolidated
financial statements is determined on such a basis, except for share-based payment transactions
that are within the scope of FRS 102 Share-based Payment, leasing transactions that are within the
scope of FRS 17 Leases, and measurements that have some similarities to fair value but are not
fair value, such as net realisable value in FRS 2 Inventories or value in use in FRS 36 Impairment of
Assets.
In addition, for financial reporting purposes, fair value measurements are categorised into Level 1,
2 or 3 based on the degree to which the inputs to the fair value measurements are observable and
the significance of the inputs to the fair value measurement in its entirety, which are described as
follows:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or
liabilities that the entity can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are
observable for the asset or liability, either directly or indirectly; and
Level 3 inputs are unobservable inputs for the asset or liability.
