URA

117 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 6. Operating surplus before income tax (Continued) Operating surplus before income tax is arrived at after charging/(crediting) the following items: (Continued) (e) Other items 2018 2017 $’000 $’000 Interest expenses on debt securities issued 67,956 73,340 Less: Interest expenses capitalised # (67,956) (73,340) – – # The borrowing costs have been capitalised at rates ranging from 1.50% to 3.85% per annum (2016/17: 1.50% to 3.85% per annum). (f) Managing Director, Executive Directors and senior management’s remuneration paid or payable during the year 2018 Provident fund scheme Fees Salaries contributions Sub-total Variable pay Total $’000 $’000 $’000 $’000 $’000 $’000 Managing Director  – Wai Chi-sing – 4,042 18 4,060 1,212 5,272 Executive Directors  – Pius Cheng Kai-wah – 3,295 15 3,310 822 4,132  – Michael Ma Chiu-tsee – 3,097 18 3,115 774 3,889 7 Senior management staff &  1 Ex-senior management staff – 19,910 1,813 21,723 5,357 27,080 Total** – 30,344 1,864 32,208 8,165 40,373