Annual Report 2012 - Dialog

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102 l Dialog Axiata PLC l Annual Report 2012 Notes to the Financial Statements 13 Available-for-sale financial asset Group / Company 2012 2011 At 1 January 30,596 30,596 Investment made during the year Nil Nil 30,596 30,596 Provision for impairment Nil Nil At 31 December 30,596 30,596 The Group has a 10% interest in Sri Lanka Institute of Nanotechnology (Private) Limited (formerly known as Nanco (Private) Limited ), which is involved in carrying out research on technology developments. Since the equity securities do not have a quoted market price in an active market, it is measured at cost in accordance with LKAS 39; Financial Instruments; Measurement and Recognition. 14 Trade and other receivables Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Current Trade receivables Less: provision for impairment 9,764,936 7,200,290 6,628,280 7,079,313 6,191,969 5,628,868 of trade receivables (2,590,052) (1,285,654) (1,155,106) (1,293,493) (1,008,376) (914,204) Net trade receivables 7,174,884 5,914,636 5,473,174 5,785,820 5,183,593 4,714,664 Receivables from related companies [Note 37 (f)] 108,557 157,783 197,142 108,557 157,783 197,142 Prepayments 1,932,812 1,379,549 712,252 1,169,360 1,118,946 406,567 Other receivables 2,805,723 2,829,531 3,252,331 2,314,424 2,563,082 2,759,114 12,021,976 10,281,499 9,634,899 9,378,161 9,023,404 8,077,487 Non Current Receivables from related companies [Note 37 (f)] 5,091 11,545 17,717 9,559,729 14,007,435 8,789,709 5,091 11,545 17,717 9,559,729 14,007,435 8,789,709 Other receivables mainly consist of amounts advanced to vendors Rs. 832,887,411 (2011 Rs. 957,103,565) and Rs. 1,296,769,511 (2011- Rs. 1,104,524,815), Value Added Tax refunds due from the Department of Inland Revenue amounting to Rs. 592,664,849 (2011 - Rs. 1,048,832,272) and Rs. 669,073,796 (2011 - Rs. 1,053,126,721) and ESC tax credits amounting to Rs. 343,503,504 (2011- Rs. 418,914,576) and Rs. 385,206,146 (2011- Rs. 487,230,734) of the Company and the Group respectively.
(a) The fair values of trade and other receivables are as follows: Annual Report 2012 l Dialog Axiata PLC l 103 Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Trade receivables 7,174,884 5,914,636 5,473,174 5,785,820 5,183,593 4,714,664 Receivables from related companies 108,557 157,783 197,142 108,557 157,783 197,142 Other receivables excluding non-financial assets 2,805,723 2,829,531 3,252,331 2,314,424 2,563,082 2,759,114 10,089,164 8,901,950 8,922,647 8,208,801 7,904,458 7,670,920 The fair values of loans to related companies are based on the cash flows discounted using a rate based on the borrowings rate of 4.05 % (2011 - 4.05 %).The discount rate equals to the market borrowing rate of the Company which comprise LIBOR plus a premium attributed to appropriate credit rating. (b) Trade receivables by credit quality are as follows: Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Neither past due nor impaired 2,821,054 2,434,050 2,764,037 2,327,644 2,189,031 2,265,011 Past due but not impaired 4,353,830 3,480,586 2,709,137 3,458,176 2,994,562 2,449,653 Impaired 2,590,052 1,285,654 1,155,106 1,293,493 1,008,376 914,204 9,764,936 7,200,290 6,628,280 7,079,313 6,191,969 5,628,868 Past due but not impaired balances include trade receivable balance with a carrying amount of Rs. 3,458,176,292 ( 2011- Rs. 2,994,561,771) and Rs. 4,353,829,632. (2011 - Rs. 3,480,585,473), which are past due at the end of the reporting period but which Company and the Group have not impaired as there has not been a significant change in credit quality and the Directors believe that overdue amounts are fully recoverable. (c) The aging of trade receivables that are past due but not impaired are as follows: Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Amount overdue: 1 month to 6 months 3,939,325 2,924,477 2,289,746 3,204,283 2,608,060 2,151,831 6 months to 1 year 265,525 221,489 77,497 192,066 146,739 39,869 More than 1 year 148,980 334,620 341,894 61,827 239,763 257,953 4,353,830 3,480,586 2,709,137 3,458,176 2,994,562 2,449,653
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Dialog Axiata PLC l Annual Report 2
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Introduction to the Company Dialog
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Annual Report 2012 l Dialog Axiata
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Mr. Moksevi Prelis Independent, Non
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Mr. James Maclaurin Non-Independent
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Group NPAT Rs. Mn +23% 7,000 6,000
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Gross Debt to Equity 2.0 1.5 1.0 0.
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Dialog Axiata PLC - Financial Revie
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EBITDA Annual Report 2012 l Dialog
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Table 1: Market information on DIAL
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Figure 4: Trend in Composition of S
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Financial Reports Annual Report of
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