NOTES TO FINANCIAL STATEMENTS
30 June 2015
Annual Report 2015
Karin Technology Holdings Limited
97
21. CASH AND CASH EQUIVALENTS
Group
Company
2015
2015
HK$’000
HK$’000
HK$’000
HK$’000
Cash and bank balances other than time deposits
104,937
1,305
1,565
Time deposits
33,690
–
–
138,627
1,305
1,565
_______
_______
_______
_____
At 30 June 2015, the cash and bank balances of the Group denominated in Renminbi (“
RMB
”) amounted to
),
),
5IF 3.# JT OPU GSFFMZ DPOWFSUJCMF JOUP PUIFS DVSSFODJFT IPXFWFS VOEFS
Mainland China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment
of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks
authorised to conduct foreign exchange business.
Cash at banks earns interest at floating rates based on daily bank deposit rates. Short term time deposits are
NBEF GPS WBSZJOH QFSJPET PG CFUXFFO POF EBZ BOE TJY NPOUIT
CFUXFFO POF EBZ BOE TJY NPOUIT EFQFOEJOH
on the immediate cash requirement of the Group, and earn interest at the respective time deposit rates. The
bank balances are deposited with major international banks in Mainland China, Hong Kong and Singapore and
state-owned banks in Mainland China with no recent history of default.
22. TRADE PAYABLES, OTHER PAYABLES AND ACCRUALS
Group
Company
2015
2015
HK$’000
HK$’000
HK$’000
HK$’000
Trade payables
230,970
–
–
_______
________
_______
______
Receipts in advance
77,708
51,369
–
–
Other payables
14,676
–
–
Accruals
38,189
23,997
3,434
2,163
_______
________
_______
______
Other payables and accruals
130,573
3,434
2,163
_______
________
_______
______
361,543
236,999
3,434
2,163
_______
________
_______
______
The trade and other payables are non-interest-bearing and are normally settled on terms of 30 to 60 days.
