NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
20 TRADE AND OTHER RECEIVABLES (CONT’D)
Movements in the allowance accounts:
Group
Company
2014
2013
2014
2013
(restated)
$’000
$’000
$’000
$’000
At 1 January
(15,764)
(18,933)
(406)
(71,187)
Impairment for the year
– Continuing operations (note 10)
(2,397)
(669)
–
(3,172)
– Discontinued operations
–
(6,375)
–
–
Amounts written off
4,519
39
21
–
Reversal of impairment
– Continuing operations (note 10)
72
262
101
73,953
– Discontinued operations
–
4
–
–
Sale of a subsidiary
4,275
–
–
–
Attributable to disposal group classified as held for sale
–
10,018
–
–
Exchange adjustment
574
(110)
–
–
At 31 December
(8,721)
(15,764)
(284)
(406)
21 INVESTMENT SECURITIES/MARKETABLE SECURITIES
(a)
Investment Securities
Group
2014
2013
$’000
$’000
Investment Securities:
Available-for-sale shares
– quoted, at fair value
202,488
64,139
– unquoted, at fair value
–
–
202,488
64,139
Information on the Group’s investment/marketable securities by country can be found in note 40(e).
(i)
Quoted shares, at fair value
(a)
During the financial year, the Group acquired approximately 4% of Suntec REIT units.
(b)
In 2013, the Group received 73,102,000 units in Far East Hospitality Trust (“FEHT”) as part of the
consideration for the sale of Rendezvous Grand Hotel Singapore and Rendezvous Gallery to FEHT
and Serene Land Pte Ltd. The sale was completed on 1 August 2013 (note 24). FEHT is listed on
the main board of the Singapore Exchange Securities Trading Limited. During the financial year, the
investment in FEHT units has been re-designated as marketable securities.
(c)
Asian Mineral Resources Limited (“AMR”) is a company incorporated in Canada and listed on Toronto
Venture Exchange and Alphamin Resources Corporation (“Alphamin”) is a Canadian-based mineral
exploration company and listed on Toronto Venture Exchange targeting tin. During the financial year,
the Group recognised an impairment loss of $37,000 (2013: $766,000) and nil (2013: $746,000) in
profit or loss for AMR and Alphamin respectively, as there was “significant” or “prolonged” decline
in the fair values of these investments.
119
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
