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Notes to the Financial Statements
9 TRADE AND OTHER RECEIVABLES (CONTINUED)
No significant trade receivables were past due as at 31 December 2011. No impairment losses were recognised in
the year ended 31 December 2011 (2010: nil). Based on historical default rates, the Trust believes that no impairment
allowance is necessary in respect of trade receivables.
There was no significant concentration of credit risk at the balance sheet date.
Prepayments comprise mainly advances made to suppliers for the purchase of equipment and contractors for the
development of investment properties.
10 CASH AND CASH EQUIVALENTS
Group Trust
2011 2010 2011 2010
$’000 $’000 $’000 $’000
Total cash and cash equivalents 45,598 103,930 1,697 22,961
Less: Restricted cash (5,818) (4,920)
Cash and cash equivalents
in the statement of cash flows 39,780 99,010
Cash and cash equivalents as at 31 December 2011 have reduced from the prior year due to development expenditure,
financing costs and distributions exceeding funds generated from operations.
Restricted cash relates to funds deposited in interest reserve accounts to repay borrowings as they become due.
The weighted average effective interest rate per annum relating to cash and cash equivalents at the balance sheet date
ranges from 0% to 1.17%, (2010: 0% to 1.17%). Interest rates reprice at intervals of one, three or six months.
Refer to Note 28 for foreign currency balances held.
Included in cash and cash equivalents are cash and bank balances of group entities that are denominated in Chinese
Renminbi (RMB). RMB is not a freely convertible currency and the remittance of funds out of the PRC is subject to
exchange restrictions imposed by the PRC government.
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