Financial Statements - Mewah Group
Financial Statements - Mewah Group
Financial Statements - Mewah Group
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Building Capabilities<br />
Notes to the <strong>Financial</strong> <strong>Statements</strong><br />
For the financial year ended 31 December 2011<br />
13. Inventories<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
Raw materials 92,899 37,542<br />
Finished goods 206,254 200,144<br />
Stores, spares and consumables 8,337 5,095<br />
307,490 242,781<br />
The cost of inventories recognised as an expense and included in “cost of sales” amounted to US$4,212,598,000 (2010:<br />
US$3,280,599,000).<br />
Inventories of US$Nil (2010: US$58,037,000) of the <strong>Group</strong> have been pledged as security for bank facilities of the <strong>Group</strong> (Note<br />
24(a)).<br />
Inventories include US$252,277,000 (2010: US$179,637,000) readily marketable inventories, which are agricultural commodity<br />
inventories that can be readily converted to cash due to their commodity nature, international pricing mechanism and widely<br />
available markets.<br />
14. Trade receivables<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
Trade receivables 432,200 443,500<br />
Less: Allowance for impairment of trade receivables (21,237) (16,391)<br />
Trade receivables - net 410,963 427,109<br />
Trade receivables included US$19,735,000 (2010: US$8,631,000) due from related parties.<br />
Related parties are companies in which the directors/shareholders of the Company have significant influence or control.<br />
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