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

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 28. BANK LOANS 31.3.2011 31.12.2009 HK$’000 HK$’000 Bank loans – secured 528,263 402,486 – unsecured 278,401 147,938 806,664 550,424 Secured bank loans are repayable* as follows: Within one year 525,190 134,515 Between one to two years 187,922 224,738 Between two to five years 49,895 123,832 After five years 44,527 68,659 Less: Unamortised transaction costs (870) (1,320) 806,664 550,424 Less: Amounts due within one year shown under current liabilities 525,190 134,515 Carrying amount of bank loans that are not repayable within one year from the end of the reporting period but contain a repayment on demand clause shown under current liabilities 253,396 386,887 778,586 521,402 Amounts shown under non-current liabilities 28,078 29,022 * The amounts due are based on scheduled repayment dates set out in the respective loan agreements. The bank loans carry interest rates at Hong Kong Inter-Bank Offered Rate plus 1.25% per annum and interest rate of 90-day short-term bills plus variable annual interest rate in Taiwan. The effective interest rates on the Group’s bank loans ranged from 1.2% to 7.55% (2009: 1% to 5.44%) per annum. ANNUAL REPORT 2011 95
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 29. GOVERNMENT GRANTS During the period, the Group received the following government grants: The Group received government grants of HK$33,268,000 and HK$13,632,000 from the Management Committee of Jiangmen and Yangzhou Economic and Technological Development Zone respectively for the investment in the economic development zones located in Jiangmen and Yangzhou cities. They were granted as an incentive for acquiring machineries amounting to HK$113,484,000 and HK$81,060,000 respectively by the Group for producing LED chips lighting products in the economic development zones. The amount received has been deducted from the carrying amount of the relevant assets and is in the form of reduced depreciation charges over the useful lives of the relevant assets. The Group received government grants of HK$1,185,000, HK$6,670,000 and HK$1,826,000 from the Management Committee of Guangdong Province Science Technology Bureau, Jiangmen Science and Technology Bureau and Tian Jin Logistic Development Bureau respectively for the investment in the economic development zones located in Jiangmen, Yangzhou and Tian Jin cities related to LED chips technology development. The government grants have been deferred as the Group has not fulfilled the conditions attaching to the government grants. The Group received government grants of HK$14,825,000 from the Management Committee of Yangzhou Economic Technology Development Zone for the investment in the economic development zones located in Yangzhou city. It was granted as an incentive for acquiring prepaid lease payments amounting to HK$20,934,000 by the Group for constructing LED chips production facilities in the economic development zone. The amount received has been deducted from the carrying amount of the relevant assets and is in the form of reduced amortisation charges over the useful lives of the relevant assets. 96 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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Directors’ Report PRE-EMPTIVE RIG
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Directors’ Report DIRECTORS AND C
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Directors’ Report CONNECTED TRANS
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Directors’ Report The weighted av
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Directors’ Report EMPLOYEES The t
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Corporate Governance Report Chairma
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Corporate Governance Report Minutes
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Corporate Governance Report III. Em
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INDEPENDENt AuDItor’S rEPort TO T
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CoNSoLIDAtED StAtEMENt of CoMPrEHEN
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CoNSoLIDAtED StAtEMENt of fINANCIAL
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Page 48 and 49: NotES to tHE CoNSoLIDAtED fINANCIAL
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Annual Report 2011 年報 - Neo-Neon LED Lighting International Ltd