FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
93
NOTES TO FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 (CONT’D)
20 RECEIVABLES FROM SUBSIDIARIES
The receivables from subsidiaries are non-trade in nature, unsecured, interest free and repayable on demand.
The carrying values of receivables from subsidiaries approximated their fair values at balance sheet date.
The exposure of receivables from subsidiaries to currency risk is disclosed in Note 34(a).
21 OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS
The Group
The Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Other receivables
5,069
7,541
8
1
Deposits
1,702
1,727
-
-
Prepayments
4,165
3,898
11
11
Staff loans and advances
509
225
-
-
11,445
13,391
19
12
Less: Allowance for impairment of doubtful
other receivables (Note 34(b)(ii)(b))
(1,311)
(1,446)
-
-
10,134
11,945
19
12
Less: Other receivables (non-current)
(1,935)
(3,156)
-
-
8,199
8,789
19
12
Other receivables include an amount of $2,910,000 (2014 : $3,477,000) in respect of project cost incurred which will
be reimbursable by a customer. This amount will be repayable based on the future sales orders of this project. An
amount of $1,935,000 (2014 : $3,156,000) has been included under non-current asset as repayment is not expected
to be received within the next 12 months.
The carrying values under the current portion of other receivables, deposits, staff loans and advances approximated
their fair values as these amounts are expected to be recovered within the next 12 months.
The carrying amount of the non-current other receivables approximates its fair value.
The exposure of other receivables, deposits, staff loans and advances to currency risk and credit risks is disclosed in
Note 34(a) and Note 34(b) respectively.
