notes to the financial statements - Singapore Technologies ...

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188 SIMPLY SMARTERNOTES TO THE FINANCIAL STATEMENTS31 December 2011(Currency - Singapore dollars unless otherwise stated)26. Bank balances and other liquid fundsGroupCompany2011 2010 2011 2010$’000 $’000 $’000 $’000Fixed deposits with financial institutions 937,808 1,142,427 264,346 319,867Cash and bank balances 428,644 449,300 37,513 16,944Cash and cash equivalents in the statement ofcash flows 1,366,452 1,591,727 301,859 336,811Fixed deposits with financial institutions mature at varying periods within 11 months (2010: 6 months) from the financial year-end. Interest rates rangefrom 0.03% to 8.25% (2010: 0.04% to 6.45%) per annum, which are also the effective interest rates.Cash and bank balances of $7,463,000 (2010: $4,204,000) have been placed with banks as security for letters of credit issued to third parties.Cash and cash equivalents denominated in currencies other than the functional currencies of the Company and its subsidiaries as at 31 December areas follows:27. Trade payables and accrualsGroupCompanyNote 2011 2010 2011 2010$’000 $’000 $’000 $’000Trade payables 798,531 675,730 – –Non-trade payables 65,912 48,559 5,492 3,543Purchase of property, plant and equipment 2,082 12,062 – –Accrued operating expenses 787,999 821,203 30,637 25,504Accrued interest payable 16,386 16,202 7 –Other long-term payables, current 37 – 1,333 – –Derivative financial instruments 48 19,612 13,920 – 61,690,522 1,589,009 36,136 29,053Trade payables denominated in currencies other than the functional currencies of the Company and its subsidiaries as at 31 December are as follows:
SINGAPORE TECHNOLOGIES ENGINEERING LTD Annual Report 2011189NOTES TO THE FINANCIAL STATEMENTS31 December 2011(Currency - Singapore dollars unless otherwise stated)28. Amounts due to related partiesGroupCompany2011 2010 2011 2010$’000 $’000 $’000 $’000Trade:Subsidiaries – – 8,544 2,880Associates 3,844 2,763 – –Jointly controlled entities 7,902 4,963 – –Related corporations 17,958 770 – –29,704 8,496 8,544 2,880Non-trade:Subsidiaries * – – 487,853 445,11629,704 8,496 496,397 447,996Payable:Within 1 year 29,340 8,294 269,076 393,996After 1 year 364 202 227,321 54,00029,704 8,496 496,397 447,996* Included in the amounts due to subsidiaries (non-trade) are loans of $469,316,000 (2010: $389,607,000) bearing interest at rates ranging from 4.98% to5.86% (2010: 0.93% to 4.98%) per annum. The loans are unsecured and repayable on demand.During the year, an unsecured interest-free loan of $54,000,000 was fully repaid.29. ProvisionsGroupNote 2011 2010$’000 $’000Provisions for:Warranties 188,785 188,102Liquidated damages 10,957 12,005Foreseeable losses 15,005 10,283214,747 210,390(a)Movements in provision for warranties are as follows:At beginning of the year 188,102 189,740Charge to profit or loss 5 19,834 17,069Provision utilised (20,186) (14,955)Translation difference 1,048 (3,752)Disposal of subsidiaries (13) –At end of the year 188,785 188,102
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