Lenovo 2008 Annual Report Download - page 125

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25 Receivables (continued)
(d) The carrying amounts of trade receivables, notes receivable, deposits, prepayments and other receivables approximate
their fair value. The maximum exposure to credit risk at the balance sheet date is the fair value of each class of receivable
mentioned above. The Group does not hold any collateral as security.
The carrying amounts of receivables are denominated in the following currencies:
Group Company
2008 2007 2008 2007
US$’000 US$’000 US$’000 US$’000
Euro 283,667 245,299 ––
Hong Kong dollar 36,793 3 7,9 8 1 4,740 6,510
Renminbi 253,653 97, 2 51 ––
United States dollar 1,421,545 1,234,882 1,936 658
Other currencies 3,279 2,000 3–
1,998,937 1,617, 413 6,679 7,16 8
(e) During the year, the Group sold or otherwise transferred certain trade receivable balances to banks pursuant to which
they do not qualify for derecognition. The proceeds received therefrom are recognized as short-term bank loans in the
balance sheet. At March 31, 2008, the carrying amount of the respective trade receivable balances transferred and their
associated short-term bank loans were approximately US$50 million (2007: Nil).
26 Bank deposits and cash and cash equivalents
Group Company
2008 2007 2008 2007
US$’000 US$’000 US$’000 US$’000
Bank deposits matured within one year 540,058 –––
Cash and cash equivalents
– Cash at bank and in hand 1,040,233 699,957 133,122 2,626
– Money market funds 611,187 363,759 205,000 90,000
1,651,420 1,063,716 338,122 92,626
2,191,478 1,063,716 338,122 92,626
Maximum exposure to credit risk 2 ,191,478 1,063,716 338,122 92,626
Bank deposits and cash and cash equivalents are denominated in the following currencies:
Group Company
2008 2007 2008 2007
US$’000 US$’000 US$’000 US$’000
Euro 48,001 49,393 ––
Japanese Yen 62,675 41,937 ––
Renminbi 446,154 216,114 ––
United States dollar 1,400,068 628,428 337,810 92,459
Other currencies 234,580 127, 8 4 4 312 167
2,191,478 1,063,716 338,122 92,626
Lenovo Group Limited • Annual Report 2007/08 123