SEO Version
78
Notes to the Financial Statements
30 April 2013
(In Singapore dollars)
23.
Trust receipts (secured)
Trust receipts have maturity dates of up to 6 (2012: 6) months and are secured by corporate guarantees from the
Company, a negative pledge over the assets, excluding its leasehold buildings, of subsidiary companies. These
facilities are subject to compliance with certain financial covenants.
The trust receipts bear interest at rates ranging from 1.32% to 11.75% (2012: 1.25% to 12.50%) per annum. The
weighted average interest rate of the Group’s trust receipts is 3.88% (2012: 3.62%).
Trust receipts are denominated in the following currencies:
Group
2013
2012
$’000
$’000
Ringgit Malaysia
24,254
20,644
United States Dollars
22,133
25,294
Singapore Dollars
15,064
26,625
South African Rand
6,534
2,992
Thai Baht
3,575
9,835
Australian Dollars
2,348
2,245
Hong Kong Dollars
1,534
1,288
Others
1,210
1,500
76,652
90,423
24.
Other payables
Group
Company
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Financial liabilities
Amounts due to associated company
89
89
89
89
Payroll and staff related expenses
4,374
4,970
–
–
Sundry payables
7,214
7,812
35
3
Accrued operating expenses
11,804
9,617
528
622
Amount due to a director
–
2,000
–
–
23,481
24,488
652
714
The non-trade amounts due to the associated company are unsecured, interest-free and repayable on demand.
The amount due to a director was unsecured and interest-free.
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