Notes to the Financial Statements - Swissco Holdings Limited

Notes
to the Financial Statements
For the financial year ended 31 December 2009
30. Financial risk management (continued)
(b)
Credit risk (continued)
The credit risk for trade receivables based on the information provided by key management is as
follows:
Group
2009 2008
$ $
By operating segments
Vessel chartering 16,592,495 14,145,146
Ship repair and maintenance services 1,372,954 2,832,597
17,965,449 16,977,743
(i)
Financial assets that are neither past due nor impaired
Bank deposits are neither past due nor impaired as these are mainly deposits with reputable
banks. Financial assets, available-for-sale which refers to an investment in a Singapore listed
security, is neither past due or impaired as there is an active trading market for the security
and there is no significant or prolonged decline in its fair value. 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:
Group
2009 2008
$ $
Past due 0 to 3 months 6,860,385 7,118,661
Past due 3 to 6 months 3,431,351 3,801,886
Past due over 6 months 1,130,541 765,253
11,422,277 11,685,800
Swissco International Limited Annual Report 2009
76