2006 - Eastern Caribbean Securities Exchange

Notes to the Consolidated Financial Statementsfor the year ended 31st December, 2006Expressed in Thousands of Trinidad and Tobago dollars11. Inventories 2006 2005Plant spares 162,938 150,702Raw materials and work in progress 119,688 110,918Consumables 80,926 98,525Finished goods 58,933 36,465422,485 396,610Inventories are shown as net of provision of $13.6 million (2005-$16.7 million).12. Receivables and prepayments 2006 2005Trade receivables 133,562 98,882Less: provision for doubtful debts (17,412) (16,209)Trade receivables (net) 116,150 82,673Sundry receivables and prepayments 35,421 37,831Deferred expenditure 12,974 10,776Taxation recoverable 8,273 8,043172,818 139,32313. Cash investmentsCash investments represent cash held specifically for the financing of the Group’s expansion andmodernisation project and can only be used for that purpose. These investments are normally in the formof 30-day cash instruments.14. Bank advances 2006 2005Bankers’ acceptances and other advances 136,840 102,148Overdraft 14,676 23,332151,516 125,480Bank advances of $14.5 million are secured by certain fixed assets of the Group, all remaining advancesare unsecured. The advances are denominated in Trinidad and Tobago dollars, Jamaican dollars, Barbadosdollars and United States dollars with rates of interest in the range of 6.75% to 22% per annum. The22% rate of interest relates to overdraft borrowings by the subsidiary in Jamaica.Annual Report 200625