FY 2011 Annual Report - Sheng Siong

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