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SEE HUP SENG LIMITED
Annual Report 2012
90
Notes to the Financial Statements
31 DECEMBER 2012
36 Financial Instruments (Continued)
(a) Financial Risk Management Objectives and Policies (Continued)
(iii) Liquidity risk (Continued)
Carrying
amount
Less
than
1 year
Between
1 and 2
years
Between
2 and 5
years
Over
5 years Total
S$’000 S$’000 S$’000 S$’000 S$’000 S$’000
Company
At 31 December 2012
Liabilities
Trade and other
payables 2,532 2,532 – – – 2,532
Amounts due to
subsidiaries 23,837 23,837 – – – 23,837
Financial guarantee
contracts 124,981 124,981 – – – 124,981
151,350 151,350 – – – 151,350
At 31 December 2011
Liabilities
Trade and other
payables 1,903 1,903 – – – 1,903
Amounts due to
subsidiaries 7,530 7,530 – – – 7,530
Financial guarantee
contracts 119,981 119,981 – – – 119,981
129,414 129,414 – – – 129,414
In the management of its liquidity risk, the Group monitors and maintains a level of cash and cash
equivalents deemed adequate by the Management to finance the Group’s operations and mitigate
the effects of fluctuations in cash flows.
The Group relies on bank borrowings as a significant source of liquidity.