notes to the financial statements - Investor Relations

CWT Limited
102
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2011
26 FINANCIAL LIABILITIES
Group Company
Note 2011 2010 2011 2010
$’000 $’000 $’000 $’000
Current liabilities
Bank overdrafts 21 225,050 5,226 – –
Bank loans (secured) 64,451 4,761 – –
Bank loans (unsecured) 20,662 5,304 1,245 –
Hire purchase and finance lease liabilities (a) 724 513 34 –
Total 310,887 15,804 1,279 –
Non-current liabilities
Bank loans (secured) 79,322 1,961 53,900 –
Hire purchase and finance lease liabilities (a) 1,952 705 201 –
Total 81,274 2,666 54,101 –
The bank loans of the Group are secured over property, plant and equipment with carrying amounts of $78,696,000 (2010:
$20,727,000) (see note 4), receivables and prepayments with carrying amounts of $163,276,000 (2010: nil) (see note 16),
letter of intent by CWT Commodities Pte Ltd, counter guarantee letter given by CWT Europe B.V., personal guarantee by
directors of the Company, and cross guarantee between the entities of CWT Sitos B.V. Group.
(a) Hire purchase and finance lease liabilities.
Obligations under hire purchase and finance leases that are repayable as follows:
Principal Interest Payments
$’000
Group
$’000 $’000
2011
Repayable within 1 year 724 109 833
Repayable after 1 year but within 5 years 1,887 161 2,048
Repayable after 5 years 65 14 79
2,676 284 2,960
2010
Repayable within 1 year 513 81 594
Repayable after 1 year but within 5 years 705 73 778
1,218 154 1,372
Company
2011
Repayable within 1 year 34 7 41
Repayable after 1 year but within 5 years 136 28 164
Repayable after 5 years 65 14 79
235 49 284
2010
Repayable within 1 year – – –
Repayable after 1 year but within 5 years – – –
Repayable after 5 years – – –
– – –