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(c) Liquidity risk
Excess cash in the Company will be transferred to the intermediate holding company for
effcient cash management. To meet payment obligations in a timely manner, the intermediate
holding company makes fund transfers back to the Company as and when the need arises.
The Company’s fnancial assets and liabilities based on contractual undiscounted cash fows,
are due within 1 year from the balance sheet date.
(d) Capital risk
The Company’s objectives when managing capital are to safeguard the Company’s ability to
continue as a going concern and to maintain an optimal capital structure so as to maximise
shareholder value. In order to maintain or achieve an optimal capital structure, the Company
may adjust the amount of dividend payment, return capital to shareholder, issue new shares,
obtain new borrowings or sell assets to reduce borrowings.
Management monitors capital based on the debt equity ratio, which is calculated as total
external borrowings divided by total equity. As at balance sheet date, the Company does not
have any external borrowings.
(e) Fair value measurements
The Company classifes fair value measurements using a fair value hierarchy that refects the
signifcance of the inputs used in making the measurements. The fair value hierarchy has the
following levels:
(i) Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1);
(ii) Inputsother thanquotedprices includedwithinLevel 1 that areobservable for theasset or
liability, either directly or indirectly (Level 2); and
(iii) Inputs for the asset or liability that are not based on observable market data
(unobservable inputs) (Level 3).
The following table presents the assets and liabilities measured at fair value at 31 March.
Assets
2013
Available-for-sale fnancial assets
2012
Available-for-sale fnancial assets
The Company has no derivative fnancial instruments at 31 March 2013.
The carrying value of current trade and other receivables and payables approximate their fair
values due to their short-term nature.
18. Authorisation of fnancial statements
These fnancial statements for the year ended 31 March 2013 were authorised for issue in
accordance with a resolution of the directors on 26 April 2013.
Total
$’000
18,844
15,587
Level 3
$’000
-
-
Level 2
$’000
-
-
Level 1
$’000
18,844
15,587