NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
86
CITIC ENVIROTECH LTD.
Annual Report
2015
6 CASH AND BANK BALANCES
Group
Company
December
31,
March
31,
December
31,
March
31,
2015
2015
2015
2015
$’000
$’000
$’000
$’000
Fixed deposits
132,976
537
–
–
Cash at banks
407,398 113,155 198,024
17,530
Cash on hand
92
65
–
–
Cash and bank balances
540,466 113,757 198,024
17,530
The interest rates relating to fixed deposits for the Group ranged from 3.3% to 3.4% (March 31, 2015
: 3% to 3.15%) per annum and are for a tenure of approximately 90 to 210 days (March 31, 2015 : 90
days). These fixed deposits could be withdrawn at any time as required by the Group.
As at December 31, 2015, the Group had cash and cash equivalents placed with banks in PRC
amounting to $164,178,000 (March 31, 2015 : $70,824,000). The repatriation of these cash out of
PRC is subjected to the Foreign Exchange Control Regulations in PRC.
7 TRADE RECEIVABLES
Group
December
31,
March
31,
2015
2015
$’000
$’000
Outside parties
203,435 224,387
Related parties (Note 5)
19,599
–
223,034 224,387
Less: Allowance for doubtful debts
(24)
(24)
Net
223,010 224,363
Movement in allowance for doubtful debts:
Group
December
31,
March
31,
2015
2015
$’000
$’000
At beginning and end of year
24
24
