2016 — Page 124

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

20 TRADE AND OTHER RECEIVABLES (Continued)

(c) Trade debtors that are not impaired (Continued)

Receivables that were neither overdue nor impaired relate to a wide range of customers for whom there was no recent history of default.

Receivables that were overdue but not impaired relate to a number of independent customers that have a good track record with the Group. Based on past experience, management believes that no impairment allowance is necessary in respect of these balances as there has not been a significant change in credit quality and the balances are still considered fully recoverable.

21 OTHER FINANCIAL ASSETS

Financial assets designated at fair value through profit or loss

2016

HK$'000

2015

HK$'000

20,000

90,375

During the year ended 31 December 2016, the Group purchased equity-linked notes and index-linked note in the total amount of HK$20,000,000 (2015: HK$ 100,000,000). These investment were, upon initial recognition, designated by the Group as financial assets at fair value through profit or loss with subsequent changes in fair values recognised in profit or loss. During the year ended 31 December 2016, the Group had redeemed all these investment purchased in the year 2015.

22

CASH AND BANK BALANCES

(a)

2016

HK$'000

2015

HK$'000

Deposits with banks and other financial institutions

Cash at bank and in hand

939,251

2,373,684

10,198

18,173

Cash and bank balances in the consolidated statement

of financial position

949,449

2,391,857

Less: Bank deposits with maturity over three months

at acquisition

(283,800)

Cash and cash equivalents in the consolidated

cash flow statement

949,449

2,108,057

Hong Kong Ferry (Holdings) Company Limited 122 Annual Report 2016