N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
Year ended 31 March 2015
11 Trade and other receivables
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Trade receivables, gross
5,483
3,548
5,235
3,545
Impairment losses
(724)
(654)
(724)
(654)
Trade receivables, net
4,759
2,894
4,511
2,891
Deposits
1,952
2,337
1,952
2,286
Interest receivables
424
6,646
424
6,646
Other receivables
13,778
5,951
12,991
5,381
20,913
17,828
19,878
17,204
Lease incentives
33,132
22,359
29,949
20,938
Prepayments
36,019
24,952
33,657
23,752
90,064
65,139
83,484
61,894
The Group’s primary exposure to credit risk arises through its trade and other receivables. The Group has a credit policy in
place and the exposure to credit risk is monitored on an ongoing basis.
The maximum exposure to credit risk for trade receivables at reporting date, by operating segments, is as follows:
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Business & Science Park Properties
2,571
1,283
2,323
1,280
Integrated Development, Amenities & Retail Properties
257
–
257
–
Hi-Specifications Industrial Properties & Data Centres
843
333
843
333
Light Industrial Properties & Flatted Factories
327
432
327
432
Logistics & Distribution Centres
761
846
761
846
4,759
2,894
4,511
2,891
The amounts represented in the table above are fully secured by way of bankers’ guarantees, insurance bonds or cash
security deposits held by the Group, except for trade receivables balance which are impaired.
Included in the trade receivables balance of the Group and the Trust is an amount of $393,000 (2014: $363,000) due from
one tenant as at the reporting date.
During the financial year, $976,000 (2014: $512,000) was drawn down from bankers’ guarantees and $825,000 (2014:
$167,000) of cash security deposits were forfeited as a result of the default in rental by tenants.
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