Singapore Airlines 2011 Annual Report Download - page 185
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ANNUAL REPORT 2010/2011 183
NOTES TO THE FINANCIAL STATEMENTS
31 March 2011
38 Financial Risk Management Objectives and Policies (in $ million) (continued)
(g) Counterparty risk (continued)
The Group determines concentrations of credit risk by monitoring the industry, country and credit
rating of its counterparties. The table below shows an analysis of credit risk exposures of balances that
exceed 5% of the financial assets of the Group and the Company as at 31 March:
The Group The Company
Percentage of Percentage of
Outstanding total financial Outstanding total financial
balance assets balance assets
2011 2010 2011 2010 2011 2010 2011 2010
Counterparty profiles
By industry:
Travel agencies 348.2 369.0 3.7% 6.0% 327.9 349.3 3.7% 6.2%
Airlines 275.2 178.4 2.9% 2.9% 139.9 108.2 1.6% 1.9%
Financial institutions 7,725.3 4,690.8 81.8% 75.9% 7,549.5 4,462.4 84.8% 79.5%
Others 487.6 581.5 5.2% 9.4% 177.2 298.8 2.0% 5.3%
8,836.3 5,819.7 93.6% 94.2% 8,194.5 5,218.7 92.1% 92.9%
By region:
East Asia 3,414.1 2,507.6 36.2% 40.6% 3,037.3 2,144.9 34.1% 38.2%
Europe 3,834.0 2,196.2 40.6% 35.5% 3,729.7 2,114.9 41.9% 37.7%
South West Pacific 1,199.2 164.1 12.7% 2.7% 1,169.7 132.7 13.2% 2.3%
Americas 277.3 388.9 2.9% 6.3% 187.2 315.8 2.1% 5.6%
West Asia and Africa 111.7 562.9 1.2% 9.1% 70.6 510.4 0.8% 9.1%
8,836.3 5,819.7 93.6% 94.2% 8,194.5 5,218.7 92.1% 92.9%
By Moody’s credit ratings:
Investment grade (A to Aaa) 7,719.8 4,689.2 81.8% 75.9% 7,503.3 4,462.2 84.3% 79.5%
Investment grade (Baa) 3.2 0.5 0.0% 0.0% 0.3 0.5 0.0% 0.0%
Non-rated 1,113.3 1,130.0 11.8% 18.3% 690.9 756.0 7.8% 13.4%
8,836.3 5,819.7 93.6% 94.2% 8,194.5 5,218.7 92.1% 92.9%