Financial Statements - Mewah Group

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MEWAH INTERNATIONAL INC. ANNUAL REPORT 2011 Notes to the Financial Statements For the financial year ended 31 December 2011 32. Financial risk management (continued) (c) Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting obligations due to shortage of funds. The Group maintains sufficient liquidity by closely monitoring its cash flows. The Group adopts prudent liquidity risk management policies in maintaining flexibility in funding by keeping credit facilities available with different financial institutions. 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. Balances due within 12 months approximate their carrying balances as the impact of discounting is not significant. Between Between Less than 1 and 2 2 and 5 Over 1 year years years 5 years Total US$’000 US$’000 US$’000 US$’000 US$’000 Group At 31 December 2011 Trade and other payables (261,816) - - - (261,816) Borrowings (342,411) (46,053) (3,057) - (391,521) Gross-settled currency forward contracts - Receipts 711,616 - - - 711,616 - Payments (715,458) - - - (715,458) (3,842) - - - (3,842) Gross-settled futures contracts and forward sales and purchase contracts - Receipts 1,189,202 - - - 1,189,202 - Payments (1,005,497) (12,927) - - (1,018,424) 183,705 (12,927) - - 170,778 At 31 December 2010 Trade and other payables (303,130) - - - (303,130) Borrowings (310,142) (14,095) (5,436) - (329,673) Gross-settled currency forward contracts - Receipts 754,409 - - - 754,409 - Payments (728,241) - - - (728,241) 26,168 - - - 26,168 Gross-settled futures contracts and forward sales and purchase contracts - Receipts 959,664 - - - 959,664 - Payments (1,041,980) (39,478) - - (1,081,458) (82,316) (39,478) - - (121,794) 110
Building Capabilities Notes to the Financial Statements For the financial year ended 31 December 2011 32. Financial risk management (continued) (c) Liquidity risk (continued) Less than 1 year US$’000 Company At 31 December 2011 Other payables (203) Gross-settled currency forward contracts - Receipts 1,959 - Payments (1,929) 30 At 31 December 2010 Other payables (20,935) The table below analyses the maturity profile of the Company’s contingent liabilities and commitments. The maximum amount of the financial guarantee contracts are allocated to the earliest period in which the guarantee could be called. Less than 1 year US$’000 Company At 31 December 2011 Financial guarantee contracts 292,420 At 31 December 2010 Financial guarantee contracts 53,125 111
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Financial Statements - Mewah Group

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