S T A Y I N G A H E A D O F T H E G A M E - Singapore Press Holdings

NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
AUGUST 31, 2004
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
AUGUST 31, 2004
17. Short–Term Investments (cont’d)
GROUP
2004 2003
S$’000 S$’000
Movements in provision
Opening balance 1,746 1,723
Provision for the year 4,258 1,823
Utilisation of provision (3,360) (1,800)
Closing balance 2,644 1,746
Total Short–Term Investments 473,639 915,610
(c) Total market/fair value of investments
Quoted – Equities 200,257 194,894
Bonds 306,710 737,510
506,967 932,404
Unquoted – Equities – 3,564
18. Other Creditors and Accrued Liabilities
GROUP
COMPANY
2004 2003 2004 2003
S$’000 S$’000 S$’000 S$’000
Accrued operating expenses 109,058 91,213 92,981 69,160
Sundry creditors 16,855 18,355 9,642 7,844
Customers' deposits and credits 4,232 4,024 4,047 3,897
Amounts due to brokers – 949 – –
130,145 114,541 106,670 80,901
19. Capital and Other Commitments
Commitments for:
GROUP
COMPANY
2004 2003 2004 2003
S$’000 S$’000 S$’000 S$’000
(a) Capital expenditure:
Authorised and contracted for 6,906 29,271 5,801 22,212
Authorised but not contracted for 32,509 26,206 20,459 26,152
(b) Equity investments 53,666 14,101 – –
(c) Non–cancellable operating leases payable:
Within 1 year 4,112 3,067 165 –
Between 1 – 5 years 19,899 5,864 7 –
After 5 years 200,463 44,559 – –
(d) Non–cancellable operating leases receivable:
Within 1 year 80,177 73,995 – –
Between 1 – 5 years 119,299 95,409 – –
After 5 years – 978 – –
(e) Foreign currency forward contracts
Notional due:
Within 1 year 112,651 18,560 1,551 4,577
Positive fair value 507 68 11 40
Negative fair value 430 – – –
(f) Cross currency swap contracts
Notional due:
After 5 years 14,104 18,400 – –
Positive/(negative) fair value 793 (157) – –
The fair values of foreign currency forward and cross currency swap contracts have been calculated (using rates quoted by the
Group's bankers) assuming these contracts are terminated at the balance sheet date.
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