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SEE HUP SENG LIMITED
Annual Report 2012
75
Notes to the Financial Statements
31 DECEMBER 2012
17 Amounts due from/(to) Subsidiaries
Company
2012 2011
S$’000 S$’000
Amount due from subsidiary companies
– non-trade 30,891 18,441
Allowance for impairment loss (9,491) (9,491)
Current amounts due from subsidiaries 21,400 8,950
Amounts due to subsidiary companies
– trade (2,085) (1,781)
– non-trade (21,752) (5,749)
Current amounts due to subsidiaries (23,837) (7,530)
The non-trade receivables and payables are unsecured, interest-free, and repayable on demand and will be
settled in cash. The credit period on trade receivables and payables ranges from 30 to 90 days (2011: 30 to
90 days). No interest is charged on the outstanding balances.
18 Other Receivables and Prepayments
Group Company
2012 2011 2012 2011
S$’000 S$’000 S$’000 S$’000
Current
Advances to sub-contractors 427 302 428 301
Deposits 259 277 118 161
Interest receivable 590 14 1 2
Prepayments (a) 1,401 1,158 52 49
Sundry debtors 287 797 – –
GST recoverable 486 733 – –
3,450 3,281 599 513
Non-current
Prepayments 407 1,147 – –
Other debtors 306 – – –
713 1,147 – –
(a) Included in prepayment of the Group is an amount of S$345,000 (2011: S$822,807) which represents advances to loyal customers
for a Marketing Assistance Plan.
19 Loan Receivable from an Associated Company
Loan to an associated company, Serangoon EC Pte. Ltd., is pursuant to a joint venture agreement entered into
between the joint venture partners of the property development business of the Group. The loan is unsecured
and repayable on 27 May 2015. Interest is chargeable at 6.5% per annum (2011: Nil).