Page 137 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
135
Annual Report 2013
F i nanc i a l Statement s
34. Financial risk management (continued)
(b) Credit risk (continued)
The credit risk for trade receivables (including amount due from customer on construction contracts) based
on the information provided to key management is as follows:
The Group
2013 2012
$’000 $’000
By business segments
Ship repair, ship building and marine engineering activities 2,275,838 2,036,545
Shipping 7,147 4,491
2,282,985 2,041,036
(i) Financial assets that are neither past due nor impaired
Bank deposits that are neither past due nor impaired are mainly deposits with banks with high credit-
ratings assigned by international credit-rating agencies. Trade receivables that are neither past due
nor impaired are substantially companies with a good collection track record with the Group.
(ii) Financial assets that are past due and/or impaired
There is no other class of financial assets that is past due and/or impaired except for trade
receivables.
The age analysis of trade receivables past due but not impaired is as follows:
The Group
2013 2012
$’000 $’000
Past due 0 to 3 months 1,830 9,552
Past due 3 to 6 months 1,344 1,213
Past due over 6 months 3,307 3,692
6,481 14,457