BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
120
Notes to the
Financial Statements
for the financial year ended 31December 2013
22. Cashand short-termdeposits
Cash and short-term deposits denominated in foreign currencies at 31December are as follows:-
Group
Company
2013
2012
2013
2012
$
$
$
$
United States dollar
58,615,645
661,274 37,640,863
262,541
Euro
8,880,291 3,585,421
504,298
–
For the purpose of the consolidated cash flow statement, cash and cash equivalents comprise the following at the end of the
reporting period:
Group
2013
2012
$
$
Cash and short-term deposits
205,871,055 173,901,562
Less: Depositswithmore than threemonthsmaturity
(4,000,000)
–
Cash and cash equivalents
201,871,055 173,901,562
23. Loansandborrowings
This related to short-term bank borrowings, denominated in USD, drawn down by the Company’s subsidiary for working capital
purposes. These borrowings bear interest rates ranging from 1.93% to 2.33% per annum and are secured by the subsidiary’s
pledged depositswith the banks (Note 21). These bank borrowingswere fully repaidduring the current financial year.
