UOB Annual Report 2002 - United Overseas Bank

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