UOBKH/AR09 [web] - ChartNexus

52
Notes To Financial Statements (continued)
31 December 2009
8 TRADE RECEIVABLES
The Group
2009 2008
$ $
Trade receivables from third parties 1,161,176,293 683,164,218
Less: Allowance for impairment of doubtful trade receivables (5,780,659) (2,663,972)
1,155,395,634 680,500,246
Current trade receivables (recoverable within 12 months) 1,155,395,634 664,305,871
Non-current trade receivables (recoverable after 12 months) – 16,194,375
1,155,395,634 680,500,246
Concentration of credit risk with respect to trade receivables are limited due to the Group’s diversified customer base. Management believes
that there is no anticipated additional credit risk beyond amount of allowance for impairment made in the Group’s trade receivables.
Trade receivables from third parties bear interest at market rates.
At the end of the reporting period, the carrying amounts of trade receivables approximate their fair value. The exposure to interest rate risks
of trade receivables are disclosed in Note 4.
9 FINANCIAL ASSETS/LIABILITIES, AT FAIR VALUE THROUGH PROFIT OR LOSS
The investments below include investments in quoted debt and equity securities that offer the Group the opportunity for return through
dividend income and fair value gains. Equity securities have no fixed maturity or coupon rate. The fair values of these securities are based on
closing quoted market prices on the last market day of the financial year.
Included in listed debt securities at fair value are instruments amounting to $13,091,769 with an effective interest rate of 0.5% (2008 : Nil%)
and a maturity date of 22 June 2013 (2008 : Nil).
(a) Current assets
Financial assets, at fair value through profit or loss
The Group
2009 2008
$ $
Trading securities
Listed securities:
– Equity securities – Malaysia 73 29
– Equity securities – Singapore 1,973,703 1,842,850
– Debt securities – Singapore 24,257,140 –
– Equity securities – Others 3,087 856
26,234,003 1,843,735