Asia-Pacific Strategic Investments Limited - Annual Report 2021

Notes to the Financial Statements For the financial year ended 30 June 2021

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Financial assets, at FVPL (continued)

The above investments relate to investments in quoted equity securities that offer the Group the opportunity for return through dividend income and fair value gains. The fair value of the security is based on closing quoted market prices on the last market day of the financial year end. The fair values are within level 1 of the fair value hierarchy.

13

Trade and other receivables

Group

Company

2021

2021

2020

2020

S$’000

S$’000

S$’000

S$’000

Current Trade receivables - Non-related parties

19

-

193

-

Less: Loss allowance [Note 28(b)] - Non-related parties

-

- -

(55)

- -

19

Trade receivables – net

138

Other receivables - Non-related parties

1,008 1,946

- -

11,330

1,874

- Value-added tax receivable - Subsidiary corporations

1,841

-

-

30,970 30,970

-

12,749 14,623

2,954

13,171

Less: Loss allowance [Note 28(b)] - Non-related parties

- -

-

(1,874)

(1,874) (6,045) 6,704 6,704

(6,045) 24,925 24,925

- Subsidiary corporations Other receivables – net

-

2,954 2,973

11,297 11,435

Non-current Other receivables - Non-related parties - Subsidiary corporation

10,023

- - -

- - -

-

-

17,362 17,362 24,066

10,023 12,996

24,925

Total trade and other receivables

11,435

Included in other receivables are the following:

(a) Amount due from non-related party - District Government of Nanxun District, Huzhou City of Zhejiang Province, PRC (the “Nanxun District Government”) of S$10,023,000 (2020: S$9,452,000) which relates to reimbursement of infrastructure expenditure incurred by the Group. The amount is interest free and will be offset against the cost of acquisition of the development land payable to Nanxun District Government in future. During the financial year ended 30 June 2021, the Group is revising the master development plan of the development project and management has assessed that the acquisition of development land is unlikely to be completed in the next 12 months from the end of the financial year. As such, the Group reclassified the amount due from Nanxun District Government of S$10,023,000 from current assets to non-current assets as the Group assessed that these amounts will be recoverable after 12 months from the end of the financial year.

ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED

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