NOTES TO THE
FINANCIAL STATEMENTS
Year ended 31 December 2014
7
TRADE AND OTHER RECEIVABLES
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Amounts due from:
– related party (trade)
9,209
8,738
9,209
8,738
– related party (non-trade)
1
–
1
–
– subsidiary (non-trade)
–
–
–
16
Advances to subsidiary
–
–
20,368
–
Other receivables
534
273
–
–
Security deposits receivable
–
278
–
–
Loans and receivables
9,744
9,289
29,578
8,754
Prepayments
616
571
28
45
10,360
9,860
29,606
8,799
Non-trade amounts due from a subsidiary and related party are unsecured and interest-free, and are repayable on
demand. There is no allowance for doubtful debt arising from the outstanding balances.
Advances to subsidiary are unsecured and is expected to be repaid within the next 12 months.
The maximum exposure to credit risks for trade receivables at reporting date by operating segment is as follows:
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Hospitals and medical centres
9,209
8,738
9,209
8,738
Nursing homes
–
–
–
–
Pharmaceutical Manufacturing
and Distribution Facility
–
–
–
–
9,209
8,738
9,209
8,738
At the reporting date, the hospitals and medical centres located in Singapore are leased to one master lessee,
Parkway Hospitals Singapore Pte. Ltd. (“PHS”), a related party of the Manager of the Trust. Accordingly, the
Group’s most significant outstanding trade receivable amounts to $9,209,000 (2013: $8,738,000) due from PHS as
at the reporting date. These trade receivables are in accordance to the payment schedule as set out in the lease
agreements entered with PHS.
As at 31 December 2014, the Trust has in its possession several bankers’ guarantees in its favour amounting to
$7.5 million (2013: $7.5 million). These are provided to the Trust by PHS, in lieu of security deposits.
The Manager is of the opinion that there are no conditions that cast doubt over the recoverability of the Group’s
trade receivables.
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PA R K WAY L I F E R E I T
