74
GDS Global Limited Annual Report 2015
NOTES TO
FINANCIAL STATEMENTS
As at 30 September 2015
6
CASH AND CASH EQUIVALENTS AND PLEDGED BANK DEPOSITS
Group
Company
2015
2014
2015
2014
$
$
$
$
Cash on hand
4,010
9,875
7
7
Cash at banks
8,090,507
8,088,931
684,195
2,025,147
Bank deposits
1,130,805
1,000,000
–
–
9,225,322
9,098,806
684,202
2,025,154
Less: Pledged bank deposits (shown
under non-current assets)
(130,805)
(1,000,000)
–
–
Pledged bank deposits (shown
under current assets)
(1,000,000)
–
–
–
Cash and cash equivalents
8,094,517
8,098,806
684,202
2,025,154
Bank deposits bear average effective interest rate of 1.5% (2014: 1.5%) per annum and for a tenure
of approximately 1 to 5 years (2014: 2 years). Bank deposits of $1,000,000 (2014: $1,000,000) and
$130,805 (2014: Nil) are pledged to banks to secure banking facilities and bank loans (Note 12)
respectively.
7
TRADE AND OTHER RECEIVABLES
Group
Company
2015
2014
2015
2014
$
$
$
$
Trade receivables due from third parties
7,840,063
7,040,099
–
–
Allowance for doubtful debts
(154,858)
(160,634)
–
–
7,685,205
6,879,465
–
–
Trade receivables due from subsidiaries
–
–
655,421
1,043,354
Other receivables due from third parties
532,557
17,694
–
–
Other receivables due from a subsidiary
–
–
430,000
430,000
Dividends receivable from a subsidiary
–
–
2,400,000
1,600,000
Deposits
89,105
104,817
–
–
Advance payments to suppliers
–
1,264,300
–
–
Prepayments
399,282
250,505
15,472
32,212
8,706,149
8,516,781
3,500,893
3,105,566
The trade and other receivables due from subsidiaries are unsecured, interest-free and repayable
on demand.
The average credit period for trade receivables is approximately 30 to 60 days (2014: 30 to
60 days). No interest is charged on the outstanding trade receivables.
Included in other receivables due from third parties is an advance of $503,750 (2014: Nil) to a third
party under a loan agreement. This amount is unsecured, interest-free and expected to be repaid
within the next twelve months.
