94
CO-OPERATIVE
GROUP
CO-OPERATIVE
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
9. OTHER RECEIVABLES
10. SUBSIDIARIES
2013
2012
2013
2012
$’000
$’000
$’000
$’000
Deposits
17,247 15,655
14,979 13,678
Prepayments
9,714
5,373
9,115
5,145
Staff loans
-
3
-
3
Interest receivables
2,818
2,054
2,818
2,054
Link card/phone card sales
4,739
6,509
4,738
6,509
Other receivables
3,816
5,453
3,583
2,774
Total
38,334 35,047
35,233 30,163
2013
2012
$’000
$’000
Current portion:
Loan to subsidiary
-
3,000
Total current portion
-
3,000
Non-current portion:
Unquoted equity shares, at cost
30,274 30,074
Less: Impairment loss
(4,536)
(4,536)
25,738 25,538
Receivables from subsidiaries
82,391 64,972
Less: Allowance for doubtful receivables
(50,543) (50,481)
31,848 14,491
Total non-current portion
57,586 40,029
Total
57,586 43,029
Loan to subsidiary in prior year amounting to $3,000,000 is unsecured, interest-bearing and repayable within 12 months
from the end of the reporting period. The effective interest rate of the loan is approximately 3% per annum, which
approximates the market interest rate.
Receivables from subsidiaries where no allowance is made have been assessed to be credit worthy based on credit
evaluation process by management.
