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239
Gamuda Berhad (29579-T) • Annual Report 2012
44. Financial risk management objectives and policies (cont’d.)
(a)
Credit risk (cont’d.)
Financial assets that are neither past due nor impaired
Information regarding trade and other receivables that are neither past due nor impaired is disclosed in Note
23. Deposits with banks and other financial institutions and investment securities that are neither past due
nor impaired are placed with or entered into with reputable financial institutions or companies with high credit
ratings and no history of default.
Financial assets that are either past due or impaired
Information regarding financial assets that are either past due or impaired is disclosed in Note 23.
(b)
Liquidity risk
Liquidity risk is the risk that the Group or the Company will encounter difficulty in meeting financial obligations
due to shortage of funds. The Group’s and the Company’s exposure to liquidity risk arises primarily from
mismatches of the maturities 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 bank borrowings.
At the reporting date, approximately 61% (2011: 32%) of the Group’s loans and borrowings (Note 35) will
mature in less than one year based on the carrying amount reflected in the financial statements. 79%
(2011: 38%) of the Company’s loans and borrowings will mature in less than one year at the reporting date.
Analysis of financial instruments by remaining contractual maturities
The table below summarises the maturity profile of the Group’s and the Company’s liabilities at the reporting
date based on contractual undiscounted repayment obligations.
2012
On demand
or within
One to
Over five
one year
five years
years
Total
RM’000
RM’000
RM’000
RM’000
Group
Financial liabilities:
Trade and other payables
1,248,814
132,462
53,358
1,434,634
Loans and borrowings
- Principal
1,352,040
736,899
118,703
2,207,642
- Interest
93,486
105,451
34,134
233,071
Derivatives - settled net
2,567
4,281
-
6,848
Total undiscounted financial liabilities
2,696,907
979,093
206,195
3,882,195
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012