92
TEHO INTERNATIONAL INC LTD.
Annual Report 2015
NOTES TO THE
FINANCIAL STATEMENTS
Year ended 30 June 2015
28 FINANCIAL INSTRUMENTS: INFORMATION ON FINANCIAL RISKS (CONT’D)
Credit risk on financial assets (cont’d)
Group
Company
2015
2014
2015
2014
$
$
$
$
Marine, offshore oil & gas
13,660,267 12,252,224 5,646,128 4,917,454
Property development
3,417,074 4,112,400 24,312,198 1,500,000
17,077,341 16,364,624 29,958,326 6,417,454
The concentration of trade receivables by top 3 significant customers as at the end of
financial year is as follows:
Group
2015
2014
$
$
Top 1 customer
2,279,778 3,485,000
Top 2 customers
2,847,129 4,211,449
Top 3 customers
3,381,875 4,875,477
(a) Ageing analysis of the age of trade receivable amounts (unsecured) that are past due
as at the end of financial year but not impaired:
Group
2015
2014
$
$
Past due 1 to 60 days
5,273,488 5,288,093
Past due 61 to 90 days
787,427
905,916
Past due over 90 days
1,900,148 2,317,976
Total
7,961,063 8,511,985
The Group believes that the above amounts are still collectible in full, based on
historic payment behaviour and extensive analyses of customer credit risk, including
underlying customers’ credit ratings, when available.
28 FINANCIAL INSTRUMENTS: INFORMATION ON FINANCIAL RISKS (CONT’D)
Credit risk on financial assets (cont’d)
(b) Ageing analysis as at the end of financial year of trade receivable amounts that are
impaired:
Group
2015
2014
$
$
Trade receivables:
Past due over 90 days
418,180
20,809
The allowance which is disclosed in the Note 10 is based on individual accounts
totalling $418,180 (2014: $20,809) that are determined to be impaired at the end of
the financial year. These are not secured.
Other receivables are normally with no fixed terms and therefore there is no maturity.
Liquidity risk
Liquidity risk refers to the difficulty in meeting obligations associated with financial liabilities
that are settled by delivering cash or another financial asset. The Group maintains sufficient
cash and cash equivalents, and internally generated cash flows to finance its operations.
The Group finances liquidity through internally generated cash flows and minimises liquidity
risk by keeping committed credit lines available.
Group
2015
2014
$
$
Undrawn borrowing facilities
22,698,797
33,022,578
The undrawn borrowing facilities are available for operating activities and to settle other
commitments. Borrowing facilities are maintained to ensure funds are available for the
Group’s operations.
