Notes to the Financial Statements
(Cont’d)
For the financial year ended 30 April 2016
(In Singapore Dollar)
STAMFORD TYRES CORPORATION LIMITED
86 |
DRIVING IT UP
19.
Other receivables (cont’d)
The non-trade amounts due from the joint venture company and shareholders of subsidiary companies are
unsecured, interest-free and are repayable on demand. The amounts are to be settled in cash.
The deposits to suppliers are unsecured and interest-free. The deposits are refundable at the end of the
manufacturing contracts.
Staff loans are unsecured, bear interest at rates at 6.50% (2015: 6.50%) per annum and repayable within the
next 12 months.
The advance payment for purchases is unsecured, interest-free and is deductible against the amount
payable on purchases from these suppliers.
20.
Cash and cash equivalents
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Cash at bank and on hand
17,425
15,850
373
357
Cash and cash equivalents are denominated in the following currencies:
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Singapore Dollar
4,811
4,408
366
350
Ringgit Malaysia
3,514
1,702
–
–
South African Rand
3,003
3,394
–
–
Thai Baht
1,669
916
–
–
Hong Kong Dollar
1,619
1,618
–
–
United States Dollar
642
950
7
7
Indonesian Rupiah
612
939
–
–
Others
1,555
1,923
–
–
17,425
15,850
373
357
Cash at bank earns interest at floating rates based on daily bank deposits rates ranging from 0.01% to
4.00% (2015: 0.01% to 4.00%) per annum.
