FINANCIAL STATEMENTS - Mewah Group

ANNUAL REPORT 2012NOTES TOTHE FINANCIAL STATEMENTSFor the financial year ended 31 December 201232. FINANCIAL RISK MANAGEMENT (CONTINUED)(c) Liquidity riskLiquidity risk is the risk that the Group will encounter difficulty in meeting obligations due to shortage of funds. The Group maintainssufficient liquidity by closely monitoring its cash flows. The Group adopts prudent liquidity risk management policies in maintainingflexibility 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 financialliabilities) based on contractual undiscounted cash flows. Balances due within 12 months approximate their carrying balances as theimpact of discounting is not significant.Less than 1yearBetween1and 2 yearsBetween 2and 5 years Over 5 years TotalUS$’000 US$’000 US$’000 US$’000 US$’000GroupAt 31 December 2012Trade and other payables (289,581) - - - (289,581)Borrowings (287,278) (72,336) (26,787) (5,061) (391,462)(576,859) (72,336) (26,787) (5,061) (681,043)Gross-settled currency forward contracts- Receipts 511,410 - - - 511,410- Payments (518,578) - - - (518,578)(7,168) - - - (7,168)Gross-settled futures contracts and forward sales andpurchase contracts- Receipts 1,620,959 13,176 - - 1,634,135- Payments (1,343,292) - - - (1,343,292)277,667 13,176 - - 290,843At 31 December 2011Trade and other payables (261,816) - - - (261,816)Borrowings (342,411) (46,053) (3,057) - (391,521)(604,227) (46,053) (3,057) - (653,337)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 andpurchase contracts- Receipts 1,189,202 - - - 1,189,202- Payments (1,005,497) (12,927) - - (1,018,424)183,705 (12,927) - - 170,778101