A Time To Build Caribbean Cement Company Limited Annual ...
A Time To Build Caribbean Cement Company Limited Annual ...
A Time To Build Caribbean Cement Company Limited Annual ...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
CARIBBEAN CEMENT COMPANY<br />
AND ITS SUBSIDIARIES<br />
Notes to the Consolidated Financial Statements<br />
Year ended 31 December 2004<br />
(Expressed in Jamaican Dollars)<br />
<br />
<br />
Due fr<br />
om related companies consists of the fol<br />
lowing:<br />
<br />
<br />
<br />
$’000 $’000 $’000 $’000<br />
TCL Services <strong>Limited</strong> - 391 - 391<br />
Trinidad <strong>Cement</strong> <strong>Limited</strong> 2,408 181 1,188 69<br />
TCL Trading <strong>Limited</strong> 398,294 381,600 398,294 381,600<br />
Readimix (West Indies) <strong>Limited</strong> 1,872 - 1,872 -<br />
Arawak <strong>Cement</strong> <strong>Company</strong> <strong>Limited</strong> 8,119 10,632 5,015 10,426<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
410,693 392,804 406,369 392,486<br />
Long-term 303,531 336,289 303,531 336,289<br />
Short-term 107,162 56,515 102,838 56,197<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
410,693 392,804 406,369 392,486<br />
CARIBBEAN CEMENT COMPANY<br />
AND ITS SUBSIDIARIES<br />
Notes to the Consolidated Financial Statements<br />
Year ended 31 December 2004<br />
(Expressed in Jamaican Dollars)<br />
<br />
<br />
The interest rate exposure of the borr<br />
owings is as fol<br />
lows:<br />
<strong>To</strong>tal borr<br />
owings:<br />
<br />
<br />
<br />
$’000 $’000 $’000 $’000<br />
At fi<br />
xed rates 20,162 98,588 19,854 14,791<br />
At fl<br />
oating rates 77,972 108,212 77,972 108,212<br />
Weighted average eff<br />
fe<br />
ctive interest rates:<br />
(%) (%) (%) (%)<br />
Bank advances 22.5 24.7 22.5 24.7<br />
Bank borrowings (US$ loans) - 7.2 - 7.2<br />
Trinidad <strong>Cement</strong> <strong>Limited</strong> 6.5 9.1 6.5 9.1<br />
Other bank loans 21.75 9.3 21.75 9.3<br />
<br />
<br />
Cash and cash equivalents consist of the fol<br />
lowing:<br />
<br />
<br />
<br />
$’000 $’000 $’000 $’000<br />
<br />
<br />
Bank advances consist of the fol<br />
lowing:<br />
<br />
<br />
$’000 $’000<br />
Overdraft<br />
s 77,972 108,212<br />
Cash at bank and in hand 73,884 55,467 69,818 45,112<br />
Short-term deposits 25,835 100 25,835 100<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
---<br />
- --<br />
--<br />
--<br />
--<br />
--<br />
--<br />
--<br />
99,719 55,567 95,653 45,212<br />
In 2003 advances amounting to $39,805,000 were supported by a letter of comfor<br />
t issued<br />
by Trinidad <strong>Cement</strong> <strong>Limited</strong>. There are no such advances in 2004. Other advances are<br />
unsecured.<br />
2004 ANNUAL REPORT<br />
54<br />
55<br />
2004 ANNUAL REPORT
Change language