Singapore Airlines 2015 Annual Report Download - page 182
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Notes to the Financial Statements
31 March 2015
33 Trade and Other Creditors (in $ million)
The Group The Company
31 March 31 March
2015 2014 2015 2014
Trade creditors 2,903.1 2,972.9 2,088.6 2,287.4
Amounts owing to associated companies 3.4 5.0 – –
2,906.5 2,977.9 2,088.6 2,287.4
Funds from subsidiary companies – – 962.9 853.2
Amounts owing to subsidiary companies – – 85.8 181.6
– – 1,048.7 1,034.8
2,906.5 2,977.9 3,137.3 3,322.2
Trade and other creditors are non-interest bearing. Amounts owing to related parties are trade-related, unsecured, non-interest
bearing, repayable on demand and are to be settled in cash. As at 31 March 2015, 12.5% (2014: 5.3%) of trade and other creditors
were held in USD by the Group. Included in trade and other creditors are amounts owing to related parties of $153.4 million
(2014: $177.0 million) and $115.8 million (2014: $127.4 million) for the Group and Company respectively.
Funds from subsidiary companies are unsecured and have varying repayment terms. Interest on funds from subsidiary companies
are computed using prevailing market rates which range from 0.01% to 0.78% (FY2013/14: 0.01% to 0.57%) per annum for
SGD funds, from 0.05% to 1.00% (FY2013/14: 0.03% to 0.48%) per annum for USD.
As at 31 March 2015, 36.3% of the funds from subsidiary companies are denominated in USD (2014: USD – 13.0%).
Amounts owing to subsidiary and associated companies are unsecured, trade-related, non-interest bearing and are repayable
on demand.
The Company’s amounts owing to subsidiary companies that are o-set are as follows:
The Company
31 March
2015 2014
Gross carrying amounts of payables 1,214.3 1,126.9
Gross amounts offset in the balance sheet of receivables (165.6) (92.1)
Net amounts in the balance sheet 1,048.7 1,034.8
180 FINANCIAL