Notes to the Financial Statements
(Cont’d)
For the financial year ended 30 April 2016
(In Singapore Dollar)
STAMFORD TYRES CORPORATION LIMITED
102 |
DRIVING IT UP
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
2016
Group
Financial assets
Trade and other receivables
71,850
–
–
71,850
Derivatives
66
–
–
66
Cash and cash equivalents
17,425
–
–
17,425
Total undiscounted financial assets
89,341
–
–
89,341
Financial liabilities
Trade payables, trust receipts and other
payables
83,266
–
–
83,266
Derivatives
96
–
–
96
Hire-purchase liabilities
968
1,459
–
2,427
Loans and borrowings
11,052
32,717
16,281
60,050
Total undiscounted financial liabilities
95,382
34,176
16,281
145,839
Total net undiscounted financial liabilities
(6,041)
(34,176)
(16,281)
(56,498)
