33. Financial risk management objectives and policies (cont’d)
(c) Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial obligations
as they fall due. The Group manages its liquidity risk by maintaining a level of cash
and cash equivalents deemed adequate to finance the Group’s operations to meet its
liabilities when due. The Group maintains flexibility in funding by keeping committed
credit facilities available.
The table below summarises the maturity profile of the Group’s and the Company’s
financial assets and financial liabilities based on undiscounted repayment obligations.
Contractual Cash Flows
Between
Carrying
Within 1 and 5 After
amounts Total
1 year
years 5 years
$’000 $’000 $’000 $’000 $’000
Group
2015
Derivative Financial
Instruments
Derivative financial assets 542
- inflow
49,506 49,506
–
–
- outflow
(48,897)
(48,897)
–
–
Derivative financial
liabilities
(873)
- outflow
(2,447)
(1,061)
(1,386)
–
Non-derivative
Financial Instruments
Trade and other
receivables
225,784 225,784 225,784
–
–
Cash and bank balances 77,919 77,919 77,919
–
–
Trade and other
payables
(169,920) (169,920) (169,920)
–
–
Trust receipts
(68,847)
(70,301)
(70,301)
–
–
Interest-bearing loans
and borrowings
(473,506) (503,395) (156,960) (346,435)
–
Bank overdraft
(1,130)
(1,130)
(1,130)
–
–
(410,031) (442,881)
(95,060) (347,821)
–
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
155
