. 117
ANNUAL
REPORT
20 1 7
THE BE ST
I N US
NOTESTOTHE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
18.
AMOUNTSDUE FROM/(TO) SUBSIDIARIES
Company
2017
2016
$’000
$’000
Amount due from:
Non-trade receivables–nominal amounts
122,141
107,074
Less: Allowance for impairment
(21,500)
(14,000)
100,641
93,074
Movement in allowance account:
At 1 January
14,000
–
Charge for the year
7,500
14,000
At 31December
21,500
14,000
Amount due to:
Non-tradepayables
5,000
5,653
The amounts due from/(to) subsidiaries areunsecured, non-interest bearing and are repayableondemand.
In the current financial year, an impairment loss of $7,500,000 (2016: $14,000,000) was recognised in
the Company’s profit or loss subsequent to an assessment of the carrying amount of the amounts due
from subsidiaries.
19.
CASHANDSHORT-TERMDEPOSITS
Group
Company
2017
2016
2017
2016
$’000
$’000
$’000
$’000
Cash at banks andonhand
28,984
38,205
22,214
30,406
Short-termdeposits
57,658
68,751
57,658
68,751
86,642
106,956
79,872
99,157
Cashatbanksearns interestat floating ratesbasedondailybankdeposit rates. Short-termdepositsaremade
for varyingperiods of betweenoneweek to threemonths dependingon the immediate cash requirements
of theGroupandCompany, andearn interestsat the respectiveshort-termdeposit rates ranging from0.10%
to1.20% (2016: 0.25% to1.10%) per annum.
Cash and short-termdeposits denominated in foreigncurrencies at 31December are as follows:
Group
Company
2017
2016
2017
2016
$’000
$’000
$’000
$’000
United StatesDollar
43,960
39,758
38,659
35,448
Euro
397
480
18
20
