FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
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<strong>Sheng</strong> <strong>Siong</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><br />
Notes to the Financial Statements<br />
9 Trade and other receivables (Continued)<br />
The ageing of loans and receivables at the balance sheet date is:<br />
Group Company<br />
<strong>2011</strong> 2010 <strong>2011</strong><br />
$’000 $’000 $’000<br />
Not past due 5,910 3,529 43,725<br />
Past due 1 – 30 days 179 325 –<br />
Past due 31 – 60 days 11 47 –<br />
Past due more than 60 days 100 92 –<br />
6,200 3,993 43,725<br />
The Group believes that no impairment allowance is necessary in respect of its loans and receivables, based<br />
on historic payment behaviour and analyses of the underlying customers’ credit ratings.<br />
10 Cash and cash equivalents<br />
Group Company<br />
<strong>2011</strong> 2010 <strong>2011</strong><br />
$’000 $’000 $’000<br />
Cash in hand 4,769 3,110 –<br />
Cash at banks 47,347 82,706 208<br />
Fixed deposits 70,004 69 60,004<br />
Cash and cash equivalents in the<br />
cash flow statements 122,120 85,885 60,212<br />
11 Share capital<br />
Number of<br />
Share<br />
shares capital<br />
(’000) ($’000)<br />
At 10 November 2010 (date of incorporation)<br />
– Issue of subscriber’s shares –* –*<br />
Restructuring exercise 30,000 78,234<br />
30,000 78,234<br />
Sub-divided shares 1,140,000 78,234<br />
Pre-invitation share capital 1,140,000 78,234<br />
Issuance of ordinary shares 243,537 80,367<br />
Share issue expenses# – (2,252)<br />
Total 1,383,537 156,349<br />
* As at the date of incorporation on 10 November 2010, the Company issued 3 subscriber’s shares at $1.00<br />
per share.<br />
# Included in the share issue expenses was an amount of $103,000 paid to auditors of the Company and $97,000<br />
paid to a firm in which a director is a member (see Note 18).<br />
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