Financial Statements - Mewah Group
Financial Statements - Mewah Group
Financial Statements - Mewah Group
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
MEWAH INTERNATIONAL INC.<br />
ANNUAL REPORT 2011<br />
Notes to the <strong>Financial</strong> <strong>Statements</strong><br />
For the financial year ended 31 December 2011<br />
24. Borrowings (continued)<br />
(b)<br />
Fair value of non-current borrowings<br />
The fair value of borrowings approximated the carrying value of the borrowings at statement of financial position dates<br />
as they bear interest at rates which approximate the current incremental borrowing rate for similar types of lending and<br />
borrowing arrangements, which the management expect to be available to the <strong>Group</strong>.<br />
(c)<br />
Finance lease liabilities<br />
The <strong>Group</strong> leases certain plant and equipment under finance leases.<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
Minimum lease payments due<br />
- Not later than one year 336 387<br />
- Between one and two years 232 476<br />
- Between two and five years 44 149<br />
612 1,012<br />
Less: Future finance charges (53) (106)<br />
Present value of finance lease liabilities 559 906<br />
The present values of finance lease liabilities were analysed as follows:<br />
<strong>Group</strong><br />
2011 2010<br />
US$’000 US$’000<br />
Not later than one year 301 381<br />
Later than one year<br />
- Between one and two years 219 425<br />
- Between two and five years 39 100<br />
258 525<br />
Total 559 906<br />
92
Change language