NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
26 INVENTORIES
Group
2014
2013
(restated)
$’000
$’000
Balance sheet:
At lower of cost or net realisable value:
Inventories of:
– Tin-in-concentrates
23,306
12,709
– Tin-in-process
50,304
67,174
– Refined tin metal
17,008
19,975
Other inventories (stores, spares, fuels, coal and saleable by-products)
5,467
6,249
96,085
106,107
Income statement:
Inventories recognised as an expense in cost of sales
– Continuing operations
686,533
564,100
– Discontinued operations
–
23,189
Inclusive of the following charge:
Inventories written-down
– Continuing operations
–
16
– Discontinued operations
–
2,942
27 INCOME TAX RECEIVABLES
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Income tax receivables
1,368
685
26
71
28 CASH AND CASH EQUIVALENTS
Group
Company
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Cash at banks and in hand
142,729
226,023
113,236
136,979
Short-term deposits
337,441
46,880
274,174
7,154
Amounts held under the
“Project Account Rules- 1997 Ed”
–
1,430
–
–
480,170
274,333
387,410
144,133
Cash at banks earn interest at floating rates based on daily bank deposit rates. Short-term deposits are placed for varying
periods depending on the immediate cash requirements of the Group, and earn interest at the respective short-term
deposit rates. The weighted average effective interest rates as at 31 December 2014 for the Group and the Company were
1.2% (2013: 2.9%) per annum and 0.9% (2013: 2.4%) per annum respectively.
127
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
