Notes to the Financial Statements
(Cont’d)
For the year ended 30 April 2015
(In Singapore Dollars)
93
STAMFORD TYRES CORPORATION LIMITED
BUILDING ON OUR EXTENSIVE NETWORK
35. Financial risk management objectives and policies (cont’d)
(d)
Liquidity risk
The Group monitors its projected and actual cash inflows and outflows to ensure that funding needs
are identified and managed in advance. The Group actively manages its debt maturity profile,
operating cash flows and availability of committed credit facilities to ensure that all refinancing,
repayment and funding needs are met. The Group strives to maintain a sufficient level of banking
facilities to meet its funding requirements and utilise trust receipts, revolving credit facilities, loans
and hire-purchase contracts for this purpose. The credit facilities provided by the banks and
finance companies are subject to certain financial covenants, and terms and conditions which are
summarised in Notes 22, 24, 25 and 27.
The table below summarises the maturity profile of the Group and Company’s financial assets and
liabilities at the end of each reporting period based on contractual undiscounted payments.
1 year
or less
2 to 5
years
Over 5
years
Total
$’000
$’000
$’000
$’000
2015
Group
Financial assets
Trade and other receivables
82,021
–
–
82,021
Derivatives
229
–
–
229
Cash and cash equivalents
15,850
–
–
15,850
Total undiscounted financial assets
98,100
–
–
98,100
Financial liabilities
Trade payables, trust receipts and other
payables
106,134
–
–
106,134
Derivatives
54
–
–
54
Hire-purchase liabilities
1,227
2,164
–
3,391
Loans and borrowings
22,898
24,911
10,974
58,783
Total undiscounted financial liabilities
130,313
27,075
10,974
168,362
Total net undiscounted financial liabilities
(32,213)
(27,075)
(10,974)
(70,262)
