125 / 152
Notes to the
financial statements
For the financial year ended 31 December 2018
123
A N N U A L R E P O R T
2 0 1 8
19.
Amounts due from/(to) subsidiaries
Company
31.12.2018
31.12.2017
1.1.2017
$’000
$’000
$’000
Amount due from:
Non-trade receivables – nominal amounts
194,969
122,141
107,074
Less: Allowance for impairment
(29,200)
(21,500)
(14,000)
165,769
100,641
93,074
Movement in allowance account:
At 1 January
21,500
14,000
–
Charge for the year
7,700
7,500
14,000
At 31 December
29,200
21,500
14,000
Amount due to:
Non-trade payables
7,650
5,000
5,653
The amounts due from/(to) subsidiaries are unsecured, non-interest bearing and are repayable
on demand.
In the current financial year, an impairment loss of $7,700,000 (2017: $7,500,000) was recognised
in the Company’s profit or loss subsequent to an assessment of the carrying amount of the amounts
due from subsidiaries.
20.
Cash and short-term deposits
Group
Company
31.12.2018
31.12.2017 1.1.2017
31.12.2018
31.12.2017 1.1.2017
$’000
$’000 $’000
$’000
$’000 $’000
Cash at banks and on hand
28,920
28,984 38,205
14,575
22,214 30,406
Short-term deposits
–
57,658 68,751
–
57,658 68,751
28,920
86,642 106,956
14,575
79,872 99,157
Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits
are made for varying periods of between one week to three months depending on the immediate
cash requirements of the Group and Company, and earn interests at the respective short-term
deposit rates ranging from 0.20% to 2.05% (2017: 0.10% to 1.20%) per annum.
Cash and short-term deposits denominated in foreign currencies at 31 December are as follows:-
Group
Company
31.12.2018
31.12.2017 1.1.2017
31.12.2018
31.12.2017 1.1.2017
$’000
$’000 $’000
$’000
$’000 $’000
United States Dollar
15,361
43,960 39,758
12,441
38,659 35,448
Euro
375
397 480
18
18
20
Malaysia Ringgit
659
–
–
–
–
–