Annual Report 2011 年報 - Neo-Neon LED Lighting International Ltd

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 6. FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies (Continued) Market risk (Continued) (iii) Other price risk The Group is exposed to equity price risk through its investments in listed equity securities and gold, silver and platinum commodities. The management manages this exposure by maintaining a portfolio of investments with different risks. Sensitivity analysis The sensitivity analyses below have been determined based on the exposure to price risks at the reporting date. For sensitivity analysis purpose, the sensitivity rate is 10% in the current period as a result of the volatile financial market. If the prices of the respective instruments had been 10% (2009: 10%) higher/lower, profit for the period would increase/decrease by HK$12,110,000 (2009: HK$39,131,000) as a result of the changes in fair value of investments held-for-trading. In management’s opinion, the sensitivity analysis is unrepresentative of the inherent price risk as the period end exposure does not reflect the exposure during the period. Liquidity risk management The directors of the Company have built an appropriate liquidity risk management framework for the management of the Group’s short, medium and long-term funding and liquidity management requirements. The Group manages liquidity risk by a level of cash and cash equivalents deemed adequate by the management to finance the Group’s operations and mitigate the effects of fluctuations in cash flows. The management monitors the utilisation of bank borrowings and ensures compliance with loan covenants. The following table details the Group’s remaining contractual maturity for its financial liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. Specifically, bank loans with a repayment on demand clause are included in the earliest time band regardless of the probability of the banks choosing to exercise their rights. The maturity dates for other financial liabilities are based on the agreed repayment dates. The table includes both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curve at the end of the reporting period. ANNUAL REPORT <strong>2011</strong> 69
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 6. FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies (Continued) Liquidity risk management (Continued) Total Effective On Less than Over undiscounted Carrying interest rate demand 1 year 1 year cash flows amount % HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 At 31st March, <strong>2011</strong> Non-derivative financial liabilities Trade and other payables – – 285,624 – 285,624 285,624 Bank loans 1.35 262,642 533,414 28,521 824,577 806,664 262,642 819,038 28,521 1,110,201 1,092,288 At 31st December, 2009 Non-derivative financial liabilities Trade and other payables – – 127,220 – 127,220 127,220 Bank loans 1.5 411,850 141,253 31,026 584,129 550,424 411,850 268,473 31,026 711,349 677,644 70 NEO-NEON HOLDINGS LIMITED
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Contents Corporate Information 4 Ch
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4lnternational Merged In Year 2010,
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Chairman’s Statement Dear Shareho
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Chairman’s Statement We are confi
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Directors, and Senior Management Pr
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Directors, and Senior Management Pr
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Management Discussion And Analysis
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Page 20 and 21: Management Discussion And Analysis
Page 22 and 23: Management Discussion And Analysis
Page 24 and 25: Directors’ Report PRE-EMPTIVE RIG
Page 26 and 27: Directors’ Report DIRECTORS AND C
Page 28 and 29: Directors’ Report CONNECTED TRANS
Page 30 and 31: Directors’ Report The weighted av
Page 32 and 33: Directors’ Report EMPLOYEES The t
Page 34 and 35: Corporate Governance Report Chairma
Page 36 and 37: Corporate Governance Report Minutes
Page 38 and 39: Corporate Governance Report III. Em
Page 40 and 41: INDEPENDENt AuDItor’S rEPort TO T
Page 42 and 43: CoNSoLIDAtED StAtEMENt of CoMPrEHEN
Page 44 and 45: CoNSoLIDAtED StAtEMENt of fINANCIAL
Page 46 and 47: CoNSoLIDAtED StAtEMENt of CASH fLoW
Page 48 and 49: NotES to tHE CoNSoLIDAtED fINANCIAL
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Annual Report 2011 年 報 - Neo-Neon LED Lighting International Ltd

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Annual Report 2011 年報 - Neo-Neon LED Lighting International Ltd