ANNUAL%20REPORT%202015%20eng

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Notes to Consolidated Financial Statements 23 BORROWINGS (Continued) (a) The Group’s long-term interest-bearing borrowings comprise: (Continued) The Group’s long-term borrowings are repayable as follows: 2015 2014 USD’000 USD’000 Within 1 year or on demand 184,818 114,818 After 1 year but within 2 years — 166,818 184,818 281,636 (b) The Group’s short-term interest-bearing borrowings comprise: 2015 2014 USD’000 USD’000 Bank loans – Unsecured 15,000 — Current portion of long-term borrowings – Bank loan 184,818 114,818 Less: Unamortised transaction costs (2,187) — 197,631 114,818 On 24 February 2016, the Group had repaid the USD5,000,000 short-term loan by converting it into coal pre-payment facility. Certain bank loans of the Group are subject to the fulfilment of covenants relating to certain of the Group’s financial ratios, as are commonly found in lending arrangements with financial institutions. The Group was in breach of certain security coverage ratio and financial covenants under the BNP and ICBC Facility as at 31 December 2015. Annual Report 2015 169
Notes to Consolidated Financial Statements 24 TRADE AND OTHER PAYABLES 2015 2014 USD’000 USD’000 Trade payables (Note (i)) 39,287 125,217 Receipts in advance (Note (ii)) 40,016 16,866 Amounts due to related parties (Note (iii)) 11,565 8,102 Payables for purchase of equipment 2,691 4,858 Security deposit on construction work 978 1,340 Interest payable 18,961 18,081 Other taxes payables 3,310 20,782 Promissory notes (Note (iv)) 72,230 66,601 Others (Note (v)) 24,391 36,271 213,429 298,118 Note: (i) As of the end of the reporting period, the ageing analysis of trade creditors and bills payable (which are included in trade and other payables), based on the invoice date, is as follows: 2015 2014 USD’000 USD’000 Within 90 days 14,122 40,958 90 to 180 days 2,153 22,410 180 to 365 days 14,019 58,380 Over 365 days 8,993 3,469 39,287 125,217 (ii) (iii) Receipts in advance represent payments in advance made by third party customers in accordance with the terms set out in respective sales agreements. Amounts due to related parties represent contractual service fee payable and payables for equipment and construction work, which are unsecured, interest-free and have no fixed terms of repayments (see Note 32(a)). 170 Annual Report 2015
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(Incorporated in the Cayman Islands
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Company Profile Mongolian Mining Co
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Corporate Information BOARD OF DIRE
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Directors and Senior Management BOA
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Directors and Senior Management Gan
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Directors and Senior Management Une
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Directors and Senior Management SEN
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Group Structure 14 Annual Report 20
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Chairman’s Statement I believe th
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Management Discussion and Analysis
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Sustainability Report OUR APPROACH
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Sustainability Report Fair operatin
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Sustainability Report Figure 3. HR
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Sustainability Report The Company
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Sustainability Report In September
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Sustainability Report Figure 5. LTI
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Sustainability Report Biodiversity
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Sustainability Report In 2015, appr
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Sustainability Report There are num
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Sustainability Report OUR COMMUNITY
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Sustainability Report We receive gr
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Sustainability Report As part of th
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Sustainability Report Procurement W
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Corporate Governance Report BOARD O
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Corporate Governance Report Continu
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Corporate Governance Report Remuner
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Corporate Governance Report The Cor
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Corporate Governance Report SHAREHO
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Directors’ Report The Directors s
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Directors’ Report Risk Management
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Directors’ Report FINANCIAL STATE
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Directors’ Report DIRECTORS’ SE
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Directors’ Report DIRECTORS’ AN
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Directors’ Report The basis of el
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Directors’ Report Details of the
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Directors’ Report RIGHTS TO PURCH
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Directors’ Report ER pledged its
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Directors’ Report At the time of
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Independent Auditor’s Report OPIN
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Consolidated Statement of Profit or
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Consolidated Statement of Financial
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Consolidated Cash Flow Statement Fo
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Notes to Consolidated Financial Sta
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Page 199 and 200: Financial Summary SUMMARY DATA OF C
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