NOTES TO THE FINANCIAL STATEMENTS
FOR THE FInAncIAL yEAR EnDED 30 JunE 2016
18
CASH AND BANK BALANCES
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Cash in hand and at bank
16,111
20,632
5,147
5,651
Fixed deposits
18,037
11,641
2,011
3,016
34,148
32,273
7,158
8,667
Fixed deposits were placed with the reputable financial institutions and matured within 1 to 10 months
(2015: 2 to 13 months) from the reporting date. The effective interest rates ranged from 0.10% to 1.70% (2015:
0.10% to 1.65%) per annum.
Fixed deposits include an amount of $1,789,000 (2015: $1,598,000) which have been pledged to banks as
collateral for bank borrowings (note 21).
Cash at bank includes an amount of $3,094,000 (2015: $1,090,000) which have been charged to bank as
collateral for bank borrowings (note 21). However, the Group is not being restricted in its use of the cash charged.
19
FINANCE LEASE LIABILITIES
Group
Minimum
lease payments
Present value
of minimum
lease payments
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Group
Within 1 financial year
898
586
792
519
Within 2 to 5 financial years
1,814
855
1,676
758
After 5 financial years
58
109
57
101
Total minimum lease payments
2,770
1,550
2,525
1,378
Less: future finance charges
(245)
(172)
–
–
2,525
1,378
2,525
1,378
Representing finance lease liabilities:
– Current
792
519
– Non-current
1,733
859
2,525
1,378
The finance leases bear effective rates of interest between 2.56% to 7.69% (2015: 2.28% to 7.48%) per annum.
Certain Directors of the Company have provided personal guarantees for finance lease liabilities amounting to
$82,000 (2015: $111,000).
96
ISOTEAM LTD.
ANNUAL REPORT 2016
