121
FRENCKEN GROUP LIMITED
ANNUAL REPORT 2014
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2014
(CONT’D)
34 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D)
(b) Credit risk (Cont’d)
(ii) Financial assets that are past due and/or impaired (Cont’d)
(b) Other receivables (Cont’d)
The carrying amount of other receivables individually determined to be impaired and the movement
in the related allowance for impairment are as follows (continued):
The Group
2014
$’000
2013
$’000
Beginning of financial year
1,698
1,740
Currency translation difference
(74)
50
Allowance utilised
(178)
(92)
End of financial year
1,446
1,698
(c) Liquidity risk
The Group maintains sufficient cash and cash equivalents, and internally generated cash flows from operating
activities to finance their activities and minimises liquidity risk by keeping committed credit lines available.
Non-derivative financial liabilities
The table below analyses the maturity profile of the Group’s and Company’s financial liabilities based on
contractual undiscounted cash flows.
Weighted
average
effective
interest rate
Less than
1 year
$’000
Between
1 and 2 years
$’000
Between
2 and 5 years
$’000
Adjustment
$’000
Total
$’000
Group
At 31 December 2014
Payables
-
(80,456)
-
-
-
(80,456)
Borrowings at variable
interest rate
2.46% (52,870)
(440)
(457)
1,291
(52,476)
Borrowings at fixed
interest rate
7.37%
(1,488)
(779)
(828)
212
(2,883)
(134,814)
(1,219)
(1,285)
1,503 (135,815)
At 31 December 2013
Payables
-
(67,959)
-
(43)
-
(68,002)
Borrowings at
variable interest rate
2.12% (46,825)
(333)
(871)
997
(47,032)
Borrowings at fixed
interest rate
7.21%
(1,787)
(1,890)
(805)
301
(4,181)
(116,571)
(2,223)
(1,719)
1,298 (119,215)
