United Energy Group Limited - HKExnews

Annual Report 2009
Notes to the Financial Statements
For the nine months ended 31 December 2009
19. TRADE AND OTHER RECEIVABLES (Continued)
(b)
Other receivables
At 31 At 31
December 2009 March 2009
HK$’000
HK$’000
Advances to a joint venture partner 16,380 –
Consideration receivable (note i) – 101,589
Deposits and prepayments 2,195 4,376
Advances to staff 2,280 –
Amount due from a disposed associate – 68,026
Others 384 323
Total other receivables 21,239 174,314
(i)
The consideration receivable represents an amount due from an independent third party derived
from the disposal of 30% equity interest in Shenyang Dadongfang Property Development Company
Limited (“Dadongfang”) for the year ended 31 March 2009. The amount is unsecured, interest-free
and had been fully repaid during the period.
20. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS
At 31 At 31
December 2009 March 2009
HK$’000
HK$’000
Held for trading:
Equity securities, listed in Hong Kong at market value (note a) 3,800 2,062
Debt securities, unlisted at fair value (note b) – 21,742
3,800 23,804
(a)
The investments represent investments in listed equity securities that offer the Group the opportunity for
return through dividend income and fair value gains. They have no fixed maturity or coupon rate. The fair
values of the listed securities are based on current bid prices. In order to minimise credit risk, the Directors
have delegated a team to be responsible for the formulation of a credit policy governing the control of credit
risk. In this regard, the Directors consider that the credit risk is significantly reduced.
(b)
Investment in debt securities represents senior note which bear interest at 12% per annum and will be
matured on 15 December 2010.
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