2011 - Li & Fung Limited

NOTES TO THE ACCOUNTS (CONTINUED)
23 TRADE AND OTHER PAYABLES (CONTINUED)
At 31 December 2011, the ageing of trade and bills payable based on invoice date is as follows:
118 LI & FUNG LIMITED | ANNUAL REPORT 2011
The Group
As at 31 December As at 1 January
2011 2010 2010
US$’000 US$’000 US$’000
(Restated) (Restated)
Current to 90 days 2,254,085 2,107,054 1,505,764
91 to 180 days 56,542 77,836 14,012
181 to 360 days 7,474 7,476 5,753
Over 360 days 18,890 16,038 13,588
24 BANK BORROWINGS
2,336,991 2,208,404 1,539,117
The Group
As at 31 December As at 1 January
2011 2010 2010
US$’000 US$’000 US$’000
(Restated) (Restated)
Long-term bank loans
– Unsecured (Note 27) 105,489 102,040 –
Short-term bank loans
– Secured 4,713 3,379 –
– Unsecured 107,223 85,775 –
111,936 89,154 –
Bank overdrafts (Note 22)
– Secured 225 5,582 6,065
– Unsecured – 22,716 1
225 28,298 6,066
Total bank borrowings 217,650 219,492 6,066
As at 31 December 2011, 31 December 2010 and 1 January 2010, the carrying amounts of the Group’s borrowings approximated their
fair values.