119
/ MTQ CORPORATION LIMITED /
ANNUAL REPORT
2014/2015
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 March 2015
(In Singapore dollars)
32. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D)
(a)
Credit risk (cont’d)
Exposure to credit risk
At the end of the reporting period, the Group’s maximum exposure to credit risk is represented by:
–
the carrying amount of each class of financial assets recognised in the balance sheets
–
corporate guarantees provided by the Company for bank facilities granted to subsidiaries as at the
end of the reporting period is $46,519,000 (2014: $48,944,000) (Note 27(c)).
Credit risk concentration profile
The Group determines concentrations of credit risk by monitoring the country and industry sector profile
of its trade receivables on an on-going basis. The credit risk concentration profile of the Group’s trade
receivables at the end of the reporting period is as follows:
Group
2015
2014
$’000
% of total
$’000
% of total
By country
Singapore
11,357
17
16,451
21
Australia
21,811
32
29,664
38
Indonesia
2,125
3
2,998
4
Malaysia
2,973
4
4,694
6
Brunei
304
–*
1,050
1
Thailand
689
1
235
–*
India
323
–*
592
1
Vietnam
185
–*
53
–*
United States
203
–*
2,595
3
Bahrain
4,313
6
619
1
United Kingdom
15,666
23
14,848
19
Saudi Arabia
4,718
7
1,922
3
Others
3,308
5
2,147
3
67,975
100
77,868
100
By industry sectors
Oil and gas
62,667
92
71,774
92
Automotive
3,193
5
3,746
5
Marine and shipping
326
–*
624
1
Mining
518
1
227
–*
Others
1,271
2
1,497
2
67,975
100
77,868
100
* Less than 1%.
At the end of the reporting period, approximately 28% (2014: 19%) of the Group's trade receivables were
due from five major customers who are leading providers of products and services to the global upstream
oil and gas industry.
