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NOTES TO THE ACCOUNTS<br />
15. Derivative financial instruments<br />
80 <strong>Johnson</strong> <strong>Electric</strong> Holdings Limited<br />
Assets Liabilities<br />
2006 2005 2006 2005<br />
US$’000 US$’000 US$’000 US$’000<br />
Interest-rate swaps-held for trading<br />
Forward foreign exchange contracts<br />
654 – – –<br />
– cash flow hedges – – 371 –<br />
– held for trading<br />
Commodity contracts<br />
– – 208 –<br />
– raw material hedge (note) 7,097 – – –<br />
– held for trading 238 – – –<br />
Total 7,989 – 579 –<br />
Current portion 7,989 – 579 –<br />
Note: This represents hedging contracts for future purchase of copper.<br />
16. Stocks and work in progress<br />
Group 2006 2005<br />
US$’000 US$’000<br />
Raw materials 129,616 85,464<br />
Work in progress 14,579 5,746<br />
Finished goods 89,184 69,561<br />
17. Trade and other receivables<br />
233,379 160,771<br />
2006 2005<br />
US$’000 US$’000<br />
Trade receivables 375,558 233,474<br />
Less: provision for impairment of receivables (8,612) (2,539)<br />
Trade receivables – net 366,946 230,935<br />
Prepayments and other receivables 51,223 47,078<br />
Investments in finance leases (note 18) 8 15<br />
418,177 278,028<br />
All trade and other receivables are either repayable within one year or on demand. Accordingly, the fair value of the<br />
Group’s and the Company’s trade and other receivables are approximately the same as the carrying value.
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