Singapore Press Holdings annual report 2011 Singapore Press ...

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Notes to the Financial StatementS August 31, 2011 160 Singapore Press Holdings annual report 2011 31. FINANCIAL RISK MANAGEMENT (CONT’D) (b) Credit risk (cont’d) (ii) Financial assets that are past due and/or impaired The age analysis of trade receivables past due but not impaired is as follows: Group Company 2011 2010 2011 2010 S$’000 S$’000 S$’000 S$’000 Past due 0 to 30 days 18,097 18,969 11,669 13,343 Past due 31 to 60 days 5,494 6,646 2,514 2,641 Past due 61 to 90 days 2,653 2,284 886 594 Past due over 90 days 3,665 3,108 1,115 795 29,909 31,007 16,184 17,373 The carrying amount of trade receivables individually determined to be impaired and the movements in the related allowance for impairment are as follows: Group Company 2011 2010 2011 2010 S$’000 S$’000 S$’000 S$’000 Gross amount 10,342 10,177 8,318 8,366 Less: Allowance for impairment (10,342) (10,177) (8,318) (8,366) - - - - Beginning of financial year 10,177 9,701 8,366 7,892 Disposal of a subsidiary (5) - - - Allowance made 1,586 2,306 590 1,443 Allowance utilised (1,293) (1,852) (638) (969) Currency translation difference (123) 22 - - End of financial year 10,342 10,177 8,318 8,366 Certain past due or impaired trade receivables are backed by bankers’/insurance guarantees and/or deposits from customers. It is not practicable to determine the fair value of the collaterals that correspond to these trade receivables. The basis of determining impairment is set out in the accounting policy Note 2(j)(v).
Notes to the Financial StatementS August 31, 2011 161 31. FINANCIAL RISK MANAGEMENT (CONT’D) (c) Liquidity risk Liquidity risk refers to the risk that the Group will encounter difficulty in meeting obligations associated with financial liabilities. To manage liquidity risk, the Group monitors and maintains a level of cash and cash equivalents to finance the Group’s operations and mitigate the effects of fluctuation in cash flows. The table below analyses the maturity profile of the Group’s and the Company’s financial liabilities (including derivative financial liabilities) based on contractual undiscounted cash flows. Less Between Between than 1 1 and 2 2 and 5 Over 5 year years years years S$’000 S$’000 S$’000 S$’000 Group At August 31, 2011 Net-settled interest rate swap (2,425) (2,375) (6,794) - Gross-settled currency forwards - Receipts 134,279 - - - - Payments (131,674) - - - Gross-settled cross currency swap - Receipts 7,476 - - - - Payments (5,146) - - - Trade and other payables (267,226) (8,079) (19,697) - Borrowings (122,214) (22,653) (1,053,586) (2,431) (386,930) (33,107) (1,080,077) (2,431) At August 31, 2010 Net-settled interest rate swap (14,015) (337) - - Gross-settled currency forwards - Receipts 112,021 - - - - Payments (108,938) - - - Gross-settled cross currency swap - Receipts 423 7,476 - - - Payments (379) (5,806) - - Trade and other payables (266,842) (7,255) (14,023) (160) Borrowings (593,720) (170,744) (766,222) (2,972) (871,450) (176,666) (780,245) (3,132)
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BUILDING ON OUR STRENGTHS Singapore
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OUR MISSION To Inform, Educate & En
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STRENGTH in depth Our decades of ex
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STRENGTH in mobility Transcending l
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Group financial HIGHLIGHTS for the
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Businesses and products UNDER THE S
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15 I am pleased to report that the
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17 SPH is proud to have been honour
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19 Dr Tan is a Singapore Government
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21 Ms Chong, a licensed valuer, gra
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Corporate INFORMATION 23 Executive
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25 Tony Mallek Han Fook Kwang Goh S
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27 Han Fook Kwang Editor, The Strai
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29 Sng Ngoi May Executive Director,
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31 Despite an uncertain economic cl
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34 Singapore Press Holdings annual
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39 Paragon Food & Beverage Fair 201
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41 DECEMBER 2010 Paragon’s Interi
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43 15 MAY 2011 Shape Singapore laun
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45 SPH & SPH Foundation Charity Giv
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47 President’s Challenge - “Tho
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Corporate social responsibility - S
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Environmental SUSTAINABILITY 51 SPH
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53 SPH Family Day Yoga class for st
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55 Singapore HR Awards 2011 Preside
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57 Asian Publishing Awards 2011 17.
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59 Board attendance The Board meets
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61 Access to information Principle
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63 Remuneration of Executives The B
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65 A webcast of the half-year and f
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67 Mr Willie Cheng Jue Hiang Curren
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Risk MANAGEMENT 69 SPH has put in p
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Daily average NEWSPAPERS CIRCULATIO
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73 After-Tax Profit (S$’m) Return
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Value added STATEMENT for the finan
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77 Investor Relations Calendar 1st
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79 Recurring Earnings @ and Dividen
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Directors’ Report for the financi
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Consolidated Income Statement for t
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Consolidated Statement of Changes i
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Notes to the Financial StatementS A
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Page 112 and 113: Notes to the Financial StatementS A
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