Annual Report 2011 - Food Junction

86
Notes to the Financial Statements (cont’d)
31 December 2011
24. Financial risk management objectives and policies (cont’d)
Liquidity risk (cont’d)
Within
Between
1 and 5
Company
1 year
years Total
2011 $’000 $’000 $’000
Financial assets:
Deposits and other receivables 1,045 87 1,132
Loan to subsidiary companies – 9,860 9,860
Amount due from subsidiary companies (non-trade) 4,367 – 4,367
Cash and cash equivalents 672 – 672
Total undiscounted financial assets 6,084 9,947 16,031
Financial liabilities:
Other payables, deposits received and accruals 580 – 580
Total undiscounted financial liabilities 580 – 580
Total net undiscounted financial assets 5,504 9,947 15,451
Company
2010
Financial assets:
Deposits and other receivables 3,933 87 4,020
Loan to subsidiary companies – 3,250 3,250
Amount due from subsidiary companies (non-trade) 8,358 – 8,358
Cash and cash equivalents 386 – 386
Total undiscounted financial assets 12,677 3,337 16,014
Financial liabilities:
Other payables, deposits received and accruals 560 – 560
Total undiscounted financial liabilities 560 – 560
Total net undiscounted financial assets 12,117 3,337 15,454
Foreign currency risk
The Group and the Company hold cash and cash equivalents denominated in US Dollars (USD) other
than the respective functional currencies of Group entities, primarily, Singapore dollar (SGD), Malaysia
Ringgit (MYR), Indonesia Rupiah (Rupiah), Renminbi (RMB) and Hong Kong dollar (HKD), for working
capital purposes. At the balance sheet date, the foreign currencies held in SGD equivalents are as
disclosed in Note 10.
The Group does not enter into forward exchange contracts to hedge against its foreign exchange risk.
The foreign exchange loss and translation differences for the year ended 31 December 2011 was not
significant.
Annual Report