35.
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
(CONTINUED)
(d)
Liquidity risk
Liquidity risk is the risk of not having access to sufficient funds to meet the Group’s and the
Company’s obligation as they become due. The Group’s and the Company’s exposure to liquidity
risk arises primarily from mismatches of the maturity of financial assets and liabilities. The Group’s
and the Company’s objective is to maintain a balance between continuity of funding and flexibility
through the use of stand-by credit facilities.
The maturity profile of the Group’s and the Company’s financial assets and financial liabilities as at
the balance sheet date, based on the contractual undiscounted payments, was as follows:
Group
1 year or
less
1 to 5
Years
Over 5
years
Total
$’000
$’000
$’000
$’000
2015
Financial assets:
Trade and other receivables, excluding
statutory tax recoverables
68,213
1,684
–
69,897
Cash and short-term deposits
25,269
–
–
25,269
Derivatives
19
–
–
19
Total undiscounted financial assets
93,501
1,684
–
95,185
Financial liabilities:
Loans and borrowings
5,431
–
–
5,431
Trade payables
51,615
–
–
51,615
Other payables and accrual, excluding
employee benefits and statutory tax
payables
9,591
–
–
9,591
Derivatives
26
–
–
26
Total undiscounted financial liabilities
66,663
–
–
66,663
Total net undiscounted financial assets
26,838
1,684
–
28,522
I N N O T E K L I M I T E D
A N N U A L R E P O R T 2 0 1 5
116
NOTES TO THE FINANCIAL
STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
