SEC Form 17-A: Annual Report - the solid group inc website

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- 77 - The Group’s management considers that all the above financial assets that are not impaired or past due at the end of each reporting period are of good credit quality. (a) Cash and Cash Equivalents, FVTPL and AFS Financial Assets The credit risk for cash and cash equivalents, FVTPL and AFS financial assets in the consolidated statements of financial position, is considered negligible, since the counterparties are reputable banks with high quality external credit ratings. (b) Trade and Other Receivables Except for trade receivables arising from real estate sales, none of the financial assets are secured by collateral or other credit enhancements. Trade receivables are secured by industrial lots and condominium units sold to buyers and are covered by postdated checks. Some of the unimpaired trade receivables and advances to related parties are past due at the end of the reporting period. Trade receivables and advances to related parties past due but not impaired can be shown as follows: 2012 2011 2010 Not more than 3 months P 160,693,790 P 69,088,088 P 162,017,197 More than 3 months but not more than one year 77,870,120 9,400,170 68,330,159 More than one year 131,075 66,597,236 294,468,345 P 238,694,985 P 145,085,494 P 524,815,701 In respect of trade and other receivables, the Group is not exposed to any significant credit risk exposure to any single counterparty or any group of counterparties having similar characteristics. Trade receivables consist of a large number of customers in various industries and geographical areas. Based on historical information about customer default rates, management consider the quality of trade receivables that are not past due or impaired to be good. 29.4 Liquidity Risk The Group manages its liquidity needs by carefully monitoring scheduled debt servicing payments for long-term financial liabilities as well as cash outflows due in a day-to-day business. Liquidity needs are monitored in various time bands, on a day-to-day and week-to-week basis, as well as on the basis of a rolling 30-day projection. Long-term liquidity needs for a 6-month and one-year period are identified monthly. The Group maintains cash to meet its liquidity requirements for up to 60-day periods. Excess cash is invested in time deposits, mutual funds or short-term marketable securities. Funding for long-term liquidity needs is additionally secured by an adequate amount of committed credit facilities and the ability to sell long-term financial assets.
- 78 - As of December 31, 2012, the Group’s financial liabilities have contractual maturities which are presented below. Current 1 to 6 months 6 to 12 months Interest-bearing loans P 571,666,922 P - Trade and other payables Advances from related parties 536,510,356 - - 11,629,819 P 1,108,177,278 P 11,629,819 This compares to the maturity of the Group’s financial liabilities as of December 31, 2011 as follows: Current 1 to 6 months 6 to 12 months Interest-bearing loans P 404,053,192 P 375,345,563 Trade and other payables 552,072,387 - Advances from related parties - 107,495,231 P 956,125,579 P 482,840,794 This compares to the maturity of the Group’s financial liabilities as of December 31, 2010 as follows: Current 1 to 6 months 6 to 12 months Interest-bearing loans P 993,779,229 P - Trade and other payables 442,663,550 - Advances from related parties - 168,911,611 P 1,436,442,779 P 168,911,611 The contractual maturities reflect the gross cash flows, which may differ with the carrying values of the financial liabilities at the end of reporting period.
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SOLID GROUP INC. April 30, 2013 THE
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12. Check whether the issuer: (a) h
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1 PART I. BUSINESS AND GENERAL INFO
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3 Solid Laguna Corporation (SLC) wa
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5 Status of any-publicly announced
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7 • Distributoship Agreement with
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9 Major Risks involved in the Busin
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11 reform. On August 13, 1997, Soli
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13 The above lease contracts are re
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15 The number of shareholders of re
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17 Item 6. Management’s Discussio
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19 2010 Revenue improved by 17% in
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21 broadband segment posted P267 mi
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23 Advances from related parties am
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25 Other operating income amounted
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27 Total assets reached P11,716 mil
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29 Cost of rentals amounted to P38
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31 Property, plant and equipment am
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33 thumb of 2 : 1 by achieving a cu
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35 vii. Causes for any Material Cha
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37 Principally due to additional co
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39 The decrease was mainly in relat
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41 Non-current trade and other rece
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43 Principally due to other compreh
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45 Increase was due to higher trade
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47 Cost of real estate sold - 37% d
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49 Mainly from higher commissions,
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51 The overall scope of the audit w
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53 Mr. Joseph Lim is the Founding C
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55 executive officers Susan L. Tan
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57 Common Lim, Elena S. 1,894 (dire
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59 2. The Company has no transactio
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62 SOLID GROUP, INC. INDEX TO FINAN
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64 INDEX TO EXHIBITS Form 17-A No.
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66 EXHIBIT 18 SUBSIDIARIES OF THE R
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- 2 - Notes 2012 2011 LIABILITIES A
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES N
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- 3 - (b) Mergers of Certain Subsid
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- 5 - 2.2 Adoption of New and Amend
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- 7 - (iii) Consolidation Standards
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- 9 - (vii) PAS 32 (Amendment), Fin
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- 11 - (c) PAS 32 (Amendment), Fina
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- 13 - 2.5 Financial Assets Financi
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- 15 - Non-compounding interest and
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- 17 - An item of property, plant a
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- 19 - If the business combination
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- 21 - (e) Sale of real estate - Re
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- 23 - Foreign currency gains and l
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- 25 - (b) Defined Contribution Pla
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Page 154 and 155: A reconciliation of the carrying am
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Page 162 and 163: - 53 - 19. OTHER INCOME 19.1 Other
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Page 184 and 185: - 75 - 28.9 Others As of December 3
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Page 191 and 192: Supplementary Schedules SOLID GROUP
Page 193 and 194: Solid Group Inc. and Subsidiaries S
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Page 197 and 198: SOLID GROUP INC. Schedule I Reconci
Page 199 and 200: SOLID GROUP INC. AND SUBSIDIARIES S
Page 201 and 202: PAS 33 Earnings per Share a PAS 34
Page 203: Solid Group Inc. and Subsidiaries S
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SEC Form 17-A: Annual Report - the solid group inc website

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