92
SUNNINGDALE TECH LTD
ANNUAL REPORT 2014
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
NOTES TO THE FINANCIAL STATEMENTS
21.
Cash and short-term deposits (cont’d)
Short-term deposits
Short-term deposits are made for varying periods of between 1 day and 3 months depending on the immediate cash
requirements of the Group, and earning interest at the respective short-term deposit rates, ranging from 2.75% to 8.50% per
annum (2013: 0.05% to 3.05% per annum).
As at 31 December 2014, the Group and Company had available $97,240,000 (2013: $80,374,000) and $29,627,000 (2013:
$23,372,000) of undrawn borrowing facilities respectively in respect of which all conditions precedent had been met.
Cash and short-term deposits denominated in foreign currencies at 31 December are as follows:
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
United States Dollar
33,048
33,215
1,464
3,565
Euro
3,326
3,085
800
388
Cash and cash equivalents
Cash and cash equivalents included in the consolidated statement of cash flows comprise the following amounts:
Group
2014
2013
$’000
$’000
Cash at banks and on hand
90,374
72,470
Short-term deposits
12,731
6,746
Cash and short-term deposits
103,105
79,216
Restricted cash (Note 25)
(6,912)
(2,698)
Cash and cash equivalents
96,193
76,518
22.
Non-current assets held for sale
On 3 October 2013, the Company had announced that its wholly-owned subsidiary, UFE Pte Ltd (“UFE”) had on 20 September
2013 granted an option to a third party to purchase UFE’s property at No. 5 Joo Koon Way, Singapore 628944 for an
aggregate sale consideration of S$9,100,000. The property was used by UFE for their production (mould fabrication and
injection moulding) and office.
The net carrying amount of the property amounting to $3,769,000 has been reclassified from property, plant and equipment.
The disposal of property was completed on 14 February 2014.
