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NOTES TO THE
FINANCIAL STATEMENTS
8 TRADE AND OTHER RECEIVABLES (CONTINUED)
As at 31 December 2011, included in the statement of financial position of the Group was a non-trade
amount of approximately S$10,314,000 due from the immediate holding company of the minority
shareholder of Qingdao Sanyang Real Estate Co., Ltd. (the “Trio Holding Company”). This amount
was fully settled during the current financial year (Note 13).
Impairment loss of S$314,000 on past due trade receivables was recognised in the year ended 31
December 2012 (2011: nil). Based on historical default rates, the Trust believes that no additional
allowance for impairment loss 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.
9 CASH AND CASH EQUIVALENTS
Group Trust
2012 2011 2012 2011
$’000 $’000 $’000 $’000
Total cash and cash equivalents 42,080 45,598 49 1,697
Less: Restricted cash (6,026) (5,818)
Cash and cash equivalents in the statement
of cash flows 36,054 39,780
Restricted cash represented i) cash deposited in interest reserve accounts to repay borrowings
as they become due and ii) cash deposited in a designated account as collateral for a borrowing.
The weighted average effective interest rate per annum relating to cash and cash equivalents at
the date of the statement of financial position ranges from 0% to 0.94%, (2011: 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 the 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.