UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Notes to the Financial Statements<br />
for the financial year ended 31 December <strong>2002</strong><br />
23 Debts Issued<br />
(b) (continued)<br />
The holders of the ABCP are entitled to receive payment comprising both the principal and interest as contracted in the ABCP<br />
but only to the extent that there are available resources in the SPE to meet those payments. The holders of the ABCP have no<br />
recourse to the Group.<br />
The SPE intends to issue new ABCP upon the maturity of outstanding ABCP for as long as the SPE intends to carry on its principal<br />
activity of investment holding.<br />
24 Singapore Government Treasury Bills and Securities<br />
(a)<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
$'000 $'000 $'000 $'000<br />
Held as long-term investments, at cost 568,803 552,957 568,803 552,957<br />
Others, at cost 7,692,630 8,189,938 7,434,030 3,741,930<br />
Provision for diminution in value (Note 33) (444) (31,062) – (22,476)<br />
7,692,186 8,158,876 7,434,030 3,719,454<br />
8,260,989 8,711,833 8,002,833 4,272,411<br />
Market value at 31 December:<br />
Held as long-term investments 612,583 533,450 612,583 533,450<br />
Others 7,711,418 8,158,876 7,449,518 3,719,454<br />
8,324,001 8,692,326 8,062,101 4,252,904<br />
(b)<br />
Included in Singapore Government treasury bills and securities are:<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
$'000 $'000 $'000 $'000<br />
Securities sold under repurchase agreements 294,257 810,410 294,257 623,801<br />
25 Other Government Treasury Bills and Securities<br />
(a)<br />
The Group<br />
The <strong>Bank</strong><br />
<strong>2002</strong> 2001 <strong>2002</strong> 2001<br />
$'000 $'000 $'000 $'000<br />
At cost 1,332,952 1,817,870 419,035 244,264<br />
Provision for diminution in value (Note 33) (4) (510) (4) (3)<br />
1,332,948 1,817,360 419,031 244,261<br />
Market value at 31 December 1,346,718 1,823,652 431,117 246,078<br />
124