Notes to the Financial Statements
(Cont’d)
For the financial year ended 30 April 2016
(In Singapore Dollar)
ANNUAL REPORT 2016
DRIVING IT UP
| 101
35.
Financial risk management objectives and policies (cont’d)
(c)
Credit risk (cont’d)
At the end of the reporting period, the Group’s and the Company’s maximum exposure to credit risk
is represented by:
-
The carrying amount of each class of financial assets recognised in the balance sheets,
including derivatives with positive fair values; and
-
Nominal amounts of $107,322,000 (2015: $127,545,000) relating to corporate guarantees
provided by the Company to banks for subsidiaries’ bank facilities.
Surplus funds are placed with reputable financial institutions.
The Group determines concentrations of credit risk by monitoring the country profile of its trade
receivables on an on-going basis. The credit risk concentration profile of the Group’s trade
receivables at the end of each reporting period is as follows:
2016
2015
$’000
%
$’000
%
Group
By country:
Malaysia
22,765
33.67
30,878
39.15
Singapore
14,212
21.02
10,056
12.75
Thailand
10,448
15.45
9,709
12.31
Indonesia
9,213
13.63
10,092
12.80
South Africa
3,570
5.28
6,147
7.79
Australia
1,953
2.89
3,250
4.12
Others
5,457
8.06
8,729
11.08
67,618
100.00
78,861
100.00
Financial assets that are neither past due nor impaired
Trade and other receivables that are neither past due nor impaired are creditworthy debtors with
good payment record with the Group.
Financial assets that are either past due or impaired
Information regarding financial assets that are either past due or impaired is disclosed in Notes 17 and 19.
