Wintec Annual Report 2009
Wintec Annual Report 2009
Wintec Annual Report 2009
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FINANCIAL PERFORMANCE<br />
NOTES TO THE FINANCIAL STATEMENTS (CONT)<br />
FOR THE YEAR ENDED 31 DECEMBER <strong>2009</strong><br />
7 INVENTORIES CONSOLIDATED PARENT<br />
<strong>2009</strong> 2008 <strong>2009</strong> 2008<br />
$000 $000 $000 $000<br />
Held for resale 396 247 396 247<br />
Materials and consumables 4 4 4 4<br />
400 251 400 251<br />
8 FINANCIAL ASSETS CONSOLIDATED PARENT<br />
<strong>2009</strong> 2008 <strong>2009</strong> 2008<br />
$000 $000 $000 $000<br />
Non-current portion<br />
Unlisted Shares<br />
Shares in PINZ (at Cost) 38 38 38 38<br />
Loans to associates<br />
Hamilton Fibre Network Ltd 892 816 892 816<br />
Special funds investments (term deposits) 117 113 117 113<br />
1,047 967 1,047 967<br />
Fair value<br />
Loans to related parties<br />
Loans to related parties are unsecured, non-interest bearing, and are<br />
repayable on demand (if approved by shareholder resolution). The fair<br />
value of the on demand loans cannot be less than the amount repayable<br />
on demand. Therefore, the carrying value of the loans on demand reflects<br />
their fair value.<br />
Unlisted shares<br />
Unlisted shares are held in non-commercial entities and are carried at<br />
cost less impairment because either the fair value of the investment<br />
cannot be reliably determined using a standardised valuation technique<br />
or due to cost not being materially different to fair value.<br />
Special funds investments<br />
The carrying value closely approximates fair value.<br />
54 _ <strong>Wintec</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2009</strong>
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