Annual Report 2012 - e-KONG Group Limited

33. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)Liquidity riskIndividual operating units within the Group are responsible for their own cash management. To minimise liquidityrisks, management of the Group regularly reviews the current and expected liquidity requirements of operatingunits to ensure they maintain sufficient reserves of cash to meet operational needs, while maintaining sufficientheadroom on its undrawn committed borrowing facilities from major financial institution so that the Group doesnot breach borrowing limits or covenants on any of its borrowing facilities to meet their liquidity requirementsin the short and longer terms.The maturity profile of the financial liabilities at the end of the reporting period based on contractual undiscountedpayments are summarised below.ConsolidatedOndemandLess than3 months3 to 12monthsAfter1 yearbut within5 years TotalHK$’000 HK$’000 HK$’000 HK$’000 HK$’000As at 31 December 2012Bank borrowings – 1,065 3,138 85,665 89,868Obligations under finance leases – 64 – – 64Trade and other payables 3,442 75,424 1,241 – 80,107Bank guarantee commitments (note 21) 1,031 – – – 1,0314,473 76,553 4,379 85,665 171,070As at 31 December 2011Obligations under finance leases – 213 636 64 913Trade and other payables 2,245 75,104 1,095 – 78,444Bank guarantee commitments (note 21) 1,084 – – – 1,0843,329 75,317 1,731 64 80,441Annual Report 2012 85