Annual Report - Hongkong Land
Annual Report - Hongkong Land
Annual Report - Hongkong Land
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Notes to the Financial Statements<br />
18 Debtors continued<br />
2012 2011<br />
US$m<br />
US$m<br />
By geographical area of operation<br />
Greater China 323.2 271.7<br />
Southeast Asia and others 96.2 113.8<br />
419.4 385.5<br />
An allowance for impairment of trade debtors is made based on the estimated irrecoverable amount. Significant financial<br />
difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency<br />
in payment are considered indicators that the debt is impaired.<br />
At 31st December 2012, no trade debtors (2011: Nil) were impaired and fully provided.<br />
At 31st December 2012, trade debtors of US$8.0 million (2011: US$4.2 million) were past due but not impaired. The ageing<br />
analysis of these trade debtors is as follows:<br />
2012 2011<br />
US$m<br />
US$m<br />
Below 30 days 6.9 3.8<br />
Between 31 and 60 days 0.2 0.4<br />
Between 61 and 90 days 0.1 –<br />
Over 90 days 0.8 –<br />
8.0 4.2<br />
The risk of trade debtors that are neither past due nor impaired at 31st December 2012 becoming impaired is low as most of the<br />
balances have been settled subsequent to the year end.<br />
Other debtors are further analysed as follows:<br />
2012 2011<br />
US$m<br />
US$m<br />
Prepayments 242.9 178.4<br />
Derivative financial instruments 50.8 70.0<br />
Amounts due from associates and joint ventures 38.9 84.9<br />
Others 53.3 29.6<br />
385.9 362.9<br />
The fair value of debtors other than derivative financial instruments approximates their carrying amounts, as the impact of<br />
discounting is not significant. Derivative financial instruments are stated at fair value.<br />
52 <strong>Hongkong</strong> <strong>Land</strong>