MITRA-AnnualReport2011 (1.2MB).pdf - Announcements - Bursa ...

Notes to The Financial Statements (cont’d)
35. fINANCIAl INSTRUMENTS (CoNT’D)
(b) financial Risk Management and objectives (cont’d)
(iii) Liquidity Risk (cont’d)
Analysis of financial instruments by remaining contractual maturities (cont’d)
Company
2011
on demand
or within
one year
one to
five years
over
five years Total
RM RM RM RM
financial liabilities
Amount due to subsidiaries 22,192,487 - - 22,192,487
Borrowings 5,321 - - 5,321
Trade and other payables 162,249 - - 162,249
22,360,057 - - 22,360,057
2010
financial liabilities
Amount due to subsidiaries 36,541,335 - - 36,541,335
Borrowings 9,283 - - 9,283
Trade and other payables 184,297 - - 184,297
36,734,915 - - 36,734,915
(iv) Foreign Currency Risk
(c) fair values
The Group is exposed to currency translation risk arising from its net investments in subsidiaries in South
Africa.
The Group does not hedge their investment in South Africa.
(i) Determination of Fair Value
The carrying amounts of cash and cash equivalents, receivables, deposits and prepayments, payables and
accruals and short term borrowings approximate fair values due to the relatively short term nature of these
financial instruments.
Other long term financial liabilities are reasonable approximation of fair values because they are floating
rate instruments which are re-priced to market interest rates.
(ii) Fair Value Hierarchy
As the financial assets and liabilities of the Group and the Company are not carried at fair value by any
valuation method, the fair value hierarchy analysis is not presented.
102 MITRAJAYA HOLDINGS BERHAD ANNUAL REPORT 2011