Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. Credit risk The Company and its subsidiaries are exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30, 2009 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 23, 2009 USD 883,035.00 34.19000 July 23, 2009 USD 200,000.00 34.62990 November 19, 2009 USD 512,800.00 34.58425 November 20, 2009 USD 500,000.00 34.63450 November 20, 2009 USD 500,000.00 34.53425 November 20, 2009 USD 500,000.00 34.61425 November 20, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 As at December 31, 2008, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : Foreign Currency Amount Exchange rates fixed Baht/USD Maturity Trust receipts accounts USD USD USD USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 January 12, 2009 January 12, 2009 January 12, 2009 January 12, 2009 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 USD 410,350.00 35.03980 May 6, 2009 USD 278,800.00 34.90000 May 13, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made.
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30, 2009 2007 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 23, 2009 USD 883,035.00 34.19000 July 23, 2009 USD 200,000.00 34.62990 November 19, 2009 USD 512,800.00 34.58425 November 20, 2009 USD 500,000.00 34.63450 November 20, 2009 USD 500,000.00 34.53425 November 20, 2009 USD 500,000.00 34.61425 November 20, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 As at December 31, 2008, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : Foreign Currency Amount Exchange rates fixed Baht/USD Maturity Trust receipts accounts USD 700,000.00 34.8600 July 2, 2007 USD 290,602.40 34.8100 July 2, 2007 USD 400,000.00 36.0300 July 10, 2007 USD 57,370.20 34.2600 July 10, 2007 USD 600,000.00 36.1000 July 12, 2007 USD 400,000.00 36.0800 July 16, 2007 USD 226,938.97 36.1100 July 16, 2007 USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 January 1234.6800 July 16, 2009 January 12, 2009 January 12, 2009 January 12, 2009 2007 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 34.6800 July 16, 2009 2007 USD 500,000.00 34.09500 April 236,168.99 34.6900 July 16, 2009 2007 USD 500,000.00 34.04000 April 16700,000.00 34.4600 July 17, 2009 2007 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 300,000.00 35.5750 September 4, 2009 2007 USD 410,350.00 35.03980 May 6700,000.00 35.4597 September 7, 2009 2007 USD 278,800.00 34.90000 May 13356,872.76 35.2760 September 10, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2007 Total 5,967,953.32 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 25. RELATED PARTY TRANSACTIONS The Company has significant transactions with its related company, those transactions are in the normal course of business as follows: Transactions during the year Interest income Baht Type of Pricing For the three-month periods end June 30, related policy Consolidated The Company Only 2007 2006 2006 2006 UMS Lighter Co., Ltd. Shareholder 1.5% per month and co-director - - 74,514.47 - Rental income UMS Lighter Co., Ltd. Shareholder and co-director Agreed price/ compared with market price - - 68,204.41 - - - 142,717.88 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 9,901,982.41 - Other expenses UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 799,856.37 - - - 10,701,496.88 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 223,180.00 277,373.00 223,180.00 277,373.00 Ending balance Other receivable UMS Lighter Co., Ltd. - - 268,466.36 - Accrued expense UMS Lighter Co., Ltd. - - 4,268,087.08 - P.A.P Insurance Co., Ltd. 110,802.78 - 110,802.78 - UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 Transactions during the year Interest income Baht Type of Pricing For the six-month periods end June 30, related policy Consolidated The Company Only 2007 2006 2006 2006 UMS Lighter Co., Ltd. Shareholder 1.5% per month and co-director - - 102,532.58 - Rental income UMS Lighter Co., Ltd. Shareholder and co-director Agreed price/ compared with market price - - 92,184.22 - - - 194,716.80 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 17,640,909.68 - Other expenses UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 1,057,377.67 - - - 18,698,287.35 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 440,533.00 623,546.00 440,533.00 623,546.00 Ending balance Other receivable UMS Lighter Co., Ltd. - - 268,466.36 - Accrued expense UMS Lighter Co., Ltd. - - 4,268,087.08 - P.A.P Insurance Co., Ltd. 110,802.78 - 110,802.78 -
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006 Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30December 31, 2009 2007 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 23458,401.33 33.680 January 3, 2009 2008 USD 883,035.00 34.19000 July 231,271,971.40 33.485 January 3, 2009 2008 USD 200,000.00 34.62990 November 19130,289.35 33.540 January 4, 2009 2008 USD 512,800.00 34.58425 November 2060,465.97 33.720 January 10, 2009 2008 USD 500,000.00 34.63450 November 20283,349.34 33.640 February 1, 2009 2008 USD 500,000.00 34.53425 November 20140,000.00 33.630 February 4, 2009 2008 USD 500,000.00 34.61425 November 201,496,452.60 33.630 February 4, 2009 USD 653,639.48 34.44725 November 232008 3,840,929.99 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2009 4,749,474.48 2007 AND 2006 As at December 31, 20082006, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : below, Foreign Currency Amount Exchange rates fixed Baht/Maturity Baht / USD Maturity Trust receipts accounts USD 155,500.00 35.955 January 8, 2007 USD USD 300,000.00 35.758 January 8, 2007 USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 37.520 January 10, 2007 USD 200,000.00 37.570 January 12, 2009 2007 USD 300,000.00 35.700 January 12, 2009 2007 USD 200,000.00 37.500 January 1216, 2009 2007 USD 300,000.00 37.450 January 1216, 2009 2007 USD 500,000.00 35.68500 300,000.00 35.640 January 1216, 2009 2007 USD 293,173.45 34.31440 900,000.00 35.560 January 1216, 2009 2007 USD 364,245.80 33.81920 115,782.91 35.325 January 16, 2007 USD 185,320.73 37.490 January 17, 2007 USD 112,050.00 36.790 February 92, 2009 2007 USD 327,086.53 33.81920 150,000.00 36.710 February 95, 2009 2007 USD 406,380.23 34.25500 February 23200,000.00 36.240 March 1, 2009 2007 USD 1,167,794.20 34.73000 300,000.00 36.160 March 116, 2009 2007 USD 1,000,000.00 34.31000 300,000.00 36.060 March 6, 2007 USD 300,000.00 37.440 March 15, 2007 USD 202,692.50 37.370 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 2007 USD 500,000.00 34.13000 37.346 March 21, 2007 USD 200,000.00 37.310 March 26, 2007 USD 300,000.00 37.600 March 26, 2007 USD 200,000.00 37.497 March 26, 2007 USD 200,000.00 37.547 March 26, 2007 USD 44,400.10 37.548 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 USD 410,350.00 35.03980 May 6, 2009 USD 278,800.00 34.90000 May 13, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2007 6,465,746.24 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006 25. RELATED PARTY TRANSACTIONS The Company has significant transactions with its related company, those transactions are in the normal course of business as follows: Baht Type of Pricing related policy Consolidated The Company Only Transactions during the year Interest income UMS Lighter Co., Ltd. Shareholder 1.5% per month 2007 2006 2006 2006 and co-director - - 102,532.58 - Rental income UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 119,684.22 - Sale of asset UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 416,677.05 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 46,032,842.70 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 932,753.00 2,090,498.47 932,753.00 2,090,498.47 Ending balance of the year Other receivable UMS Lighter Co., Ltd. - - 123,063.61 - UMS Transportation Co., Ltd. - - 80,000.00 - Trade account payable UMS Lighter Co., Ltd. - - 8,664,912.99 - Accrued expense UMS Lighter Co., Ltd. - - 774,419.65 - P.A.P Insurance Co., Ltd. 128,296.21 70,378.00 128,296.21 70,378.00 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30December 31, 2009 2008 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 23, 2009 USD 883,035.00 34.19000 July 23, 2009 USD 200,000.00 34.62990 November 19, 2009 USD 512,800.00 34.58425 November 20, 2009 USD 500,000.00 34.63450 November 20, 2009 USD 500,000.00 34.53425 November 20, 2009 USD 500,000.00 34.61425 November 20, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 As at December 31, 2008, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : Foreign Currency Amount Exchange rates fixed Baht/USD Maturity Trust receipts accounts USD USD USD USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 January 12, 2009 USD 500,000.00 35.45000 January 12, 2009 USD 1,000,000.00 35.58500 January 12, 2009 USD 500,000.00 35.63500 January 12, 2009 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 USD 410,350.00 35.03980 May 6, 2009 USD 278,800.00 34.90000 May 13, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 As at December 31, 2007, the Company has outstanding balance of transaction of forward exchange contracts are summarized below, Foreign Currency Amount Exchange rates fixed Baht / USD Maturity Trust receipts accounts USD 458,401.33 33.680 January 3, 2008 USD 1,271,971.40 33.485 January 3, 2008 USD 130,289.35 33.540 January 4, 2008 USD 60,465.97 33.720 January 10, 2008 USD 283,349.34 33.640 February 1, 2008 USD 140,000.00 33.630 February 4, 2008 USD 1,496,452.60 33.630 February 4, 2008 3,840,929.99 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made.
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) MARCH 31, 2008 Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30March 31, 2009 2008 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 231,172,803.50 32.555 August 25, 2009 2008 USD 883,035.00 34.19000 July 23500,000.00 31.250 September 22, 2009 2008 USD 200,000.00 34.62990 November 1931.600 September 29, 2009 2008 USD 512,800.00 34.58425 November 20200,000.00 31.560 October 1, 2009 2008 USD 500,000.00 34.63450 November 20200,000.00 31.610 October 1, 2009 2008 USD 500,000.00 34.53425 November 20407,254.32 31.610 October 2, 2009 2008 USD 500,000.00 34.61425 November 202,680,057.82 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) MARCH 31, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 2008 As at December 31, 20082007, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : below, Foreign Currency Amount Exchange rates fixed Baht/Baht / USD Maturity Trust receipts accounts USD 458,401.33 33.680 January 3, 2008 USD 1,271,971.40 33.485 January 3, 2008 USD USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 130,289.35 33.540 January 12, 2009 January 12, 2009 January 12, 2009 January 12, 2009 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 2008 USD 410,350.00 35.03980 May 660,465.97 33.720 January 10, 2009 2008 USD 278,800.00 34.90000 May 13283,349.34 33.640 February 1, 2009 2008 USD 500,000.00 35.78870 June 2140,000.00 33.630 February 4, 2009 2008 USD 500,000.00 35.66665 June 31,496,452.60 33.630 February 4, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2008 3,840,929.99 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made.
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006 Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30December 31, 2009 2007 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 23458,401.33 33.680 January 3, 2009 2008 USD 883,035.00 34.19000 July 231,271,971.40 33.485 January 3, 2009 2008 USD 200,000.00 34.62990 November 19130,289.35 33.540 January 4, 2009 2008 USD 512,800.00 34.58425 November 2060,465.97 33.720 January 10, 2009 2008 USD 500,000.00 34.63450 November 20283,349.34 33.640 February 1, 2009 2008 USD 500,000.00 34.53425 November 20140,000.00 33.630 February 4, 2009 2008 USD 500,000.00 34.61425 November 201,496,452.60 33.630 February 4, 2009 USD 653,639.48 34.44725 November 232008 3,840,929.99 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2009 4,749,474.48 2007 AND 2006 As at December 31, 20082006, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : below, Foreign Currency Amount Exchange rates fixed Baht/Maturity Baht / USD Maturity Trust receipts accounts USD 155,500.00 35.955 January 8, 2007 USD USD 300,000.00 35.758 January 8, 2007 USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 37.520 January 10, 2007 USD 200,000.00 37.570 January 12, 2009 2007 USD 300,000.00 35.700 January 12, 2009 2007 USD 200,000.00 37.500 January 1216, 2009 2007 USD 300,000.00 37.450 January 1216, 2009 2007 USD 500,000.00 35.68500 300,000.00 35.640 January 1216, 2009 2007 USD 293,173.45 34.31440 900,000.00 35.560 January 1216, 2009 2007 USD 364,245.80 33.81920 115,782.91 35.325 January 16, 2007 USD 185,320.73 37.490 January 17, 2007 USD 112,050.00 36.790 February 92, 2009 2007 USD 327,086.53 33.81920 150,000.00 36.710 February 95, 2009 2007 USD 406,380.23 34.25500 February 23200,000.00 36.240 March 1, 2009 2007 USD 1,167,794.20 34.73000 300,000.00 36.160 March 116, 2009 2007 USD 1,000,000.00 34.31000 300,000.00 36.060 March 6, 2007 USD 300,000.00 37.440 March 15, 2007 USD 202,692.50 37.370 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 2007 USD 500,000.00 34.13000 37.346 March 21, 2007 USD 200,000.00 37.310 March 26, 2007 USD 300,000.00 37.600 March 26, 2007 USD 200,000.00 37.497 March 26, 2007 USD 200,000.00 37.547 March 26, 2007 USD 44,400.10 37.548 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 USD 410,350.00 35.03980 May 6, 2009 USD 278,800.00 34.90000 May 13, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2007 6,465,746.24 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006 25. RELATED PARTY TRANSACTIONS The Company has significant transactions with its related company, those transactions are in the normal course of business as follows: Baht Type of Pricing related policy Consolidated The Company Only 2007 2006 2006 2006 Transactions during the year Interest income UMS Lighter Co., Ltd. Shareholder 1.5% per month and co-director - - 102,532.58 - Rental income UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 119,684.22 - Sale of asset UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 416,677.05 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 46,032,842.70 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 932,753.00 2,090,498.47 932,753.00 2,090,498.47 Ending balance of the year Other receivable UMS Lighter Co., Ltd. - - 123,063.61 - UMS Transportation Co., Ltd. - - 80,000.00 - Trade account payable UMS Lighter Co., Ltd. - - 8,664,912.99 - Accrued expense UMS Lighter Co., Ltd. - - 774,419.65 - P.A.P Insurance Co., Ltd. 128,296.21 70,378.00 128,296.21 70,378.00 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO FINANCIAL STATEMENTS (CONT.) DECEMBER 31, 2007 AND 2006 26. AGREEMENTS As at December 31, 2007, the Company had significant agreements, as follow:-
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June 30, 2009 2007 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Currency Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 700,000.00 34.8600 July 232, 2009 2007 USD 883,035.00 34.19000 290,602.40 34.8100 July 232, 2009 2007 USD 200,000.00 34.62990 November 19400,000.00 36.0300 July 10, 2009 2007 USD 512,800.00 34.58425 November 2057,370.20 34.2600 July 10, 2009 2007 USD 600,000.00 36.1000 July 12, 2007 USD 400,000.00 36.0800 July 16, 2007 USD 226,938.97 36.1100 July 16, 2007 USD 500,000.00 34.63450 November 2034.6800 July 16, 2009 2007 USD 500,000.00 34.53425 November 20, 2009 USD 500,000.00 34.61425 November 20, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 As at December 31, 2008, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : Foreign Currency Amount Exchange rates fixed Baht/USD Maturity Trust receipts accounts USD USD USD USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 January 12, 2009 January 12, 2009 January 12, 2009 January 12, 2009 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 34.6800 July 16, 2009 2007 USD 500,000.00 34.09500 April 236,168.99 34.6900 July 16, 2009 2007 USD 500,000.00 34.04000 April 16700,000.00 34.4600 July 17, 2009 2007 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 300,000.00 35.5750 September 4, 2009 2007 USD 410,350.00 35.03980 May 6700,000.00 35.4597 September 7, 2009 2007 USD 278,800.00 34.90000 May 13356,872.76 35.2760 September 10, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2007 Total 5,967,953.32 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 25. RELATED PARTY TRANSACTIONS The Company has significant transactions with its related company, those transactions are in the normal course of business as follows: Transactions during the year Interest income Baht Type of Pricing For the three-month periods end June 30, related policy Consolidated The Company Only 2007 2006 2006 2006 UMS Lighter Co., Ltd. Shareholder 1.5% per month and co-director - - 74,514.47 - Rental income UMS Lighter Co., Ltd. Shareholder and co-director Agreed price/ compared with market price - - 68,204.41 - - - 142,717.88 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 9,901,982.41 - Other expenses UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 799,856.37 - - - 10,701,496.88 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 223,180.00 277,373.00 223,180.00 277,373.00 Ending balance Other receivable UMS Lighter Co., Ltd. - - 268,466.36 - Accrued expense UMS Lighter Co., Ltd. - - 4,268,087.08 - P.A.P Insurance Co., Ltd. 110,802.78 - 110,802.78 - UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) JUNE 30, 2007 Transactions during the year Interest income Baht Type of Pricing For the six-month periods end June 30, related policy Consolidated The Company Only 2007 2006 2006 2006 UMS Lighter Co., Ltd. Shareholder 1.5% per month and co-director - - 102,532.58 - Rental income UMS Lighter Co., Ltd. Shareholder and co-director Agreed price/ compared with market price - - 92,184.22 - - - 194,716.80 - Boat conveyance expense UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 17,640,909.68 - Other expenses UMS Lighter Co., Ltd. Shareholder Agreed price/ and co-director compared with market price - - 1,057,377.67 - - - 18,698,287.35 - Goods insurance expense P.A.P Insurance Co., Ltd. Co-director Market Price 440,533.00 623,546.00 440,533.00 623,546.00 Ending balance Other receivable UMS Lighter Co., Ltd. - - 268,466.36 - Accrued expense UMS Lighter Co., Ltd. - - 4,268,087.08 - P.A.P Insurance Co., Ltd. 110,802.78 - 110,802.78 -
Appears in 1 contract
Samples: Unique Mining Services
Financial Instruments. A financial instrument is any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. Risks relating to significant financial instruments held by the company and its risk management policy are summarized as follows. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) SEPTEMBER 30, 2007 Credit risk The Company and its subsidiaries are is exposed to credit risk primarily with respect to trade and notes accounts receivable. The Company’s prudent credit policy and its diversified customer. The maximum credit risk exposure is equal to the book value of accounts receivable in the balance sheet. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the company’s operations and its cash flows The Company’s exposure to interest rate risk relates primarily to short-term loans from financial institution, long-term loans and liability under debt restructuring agreement with a floating interest rate. Liquidity risk Liquidity risk, or funding risk, is the risk that the Company and its subsidiaries will encounter difficulty in raising funds to meet commitments associated with financial instruments. Liquidity risk may result from an inability to sell financial assets quickly at close to their fair value. The Company’s financial assets comprises of cash, deposits at financial institutions, accounts receivable and inventories which are liquid and able to sell at close to their fair value when the Company wishes to raise find. Foreign currency risk The Company’s exposure to foreign currency risk relates to its trust receipts in US dollars. For the period, the Company primarily utilizes forward exchange contracts with maturity of less than one year to hedge exchange rate risk relating to the repayment of the trust receipts. Forward exchange contracts outstanding on June September 30, 2009 2007 are summarized below, Foreign Currency Amount Exchange rates fixed Maturity Currency Baht / USD Trust receipts accounts USD 1,000,000.00 34.16800 July 231,400,000.00 34.22 October 24, 2009 2007 USD 883,035.00 34.19000 July 2380,392.00 34.23 October 24, 2009 USD 200,000.00 34.62990 November 192007 Total 1,480,392.00 UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY NOTES TO INTERIM FINANCIAL STATEMENTS (CONT.) SEPTEMBER 30, 2009 USD 512,800.00 34.58425 November 20, 2009 USD 500,000.00 34.63450 November 20, 2009 USD 500,000.00 34.53425 November 20, 2009 USD 500,000.00 34.61425 November 20, 2009 USD 653,639.48 34.44725 November 23, 2009 4,749,474.48 As at December 31, 2008, the Company has outstanding balance of transaction of forward exchange contracts are summarized below : Foreign Currency Amount Exchange rates fixed Baht/USD Maturity Trust receipts accounts USD USD USD USD 500,000.00 500,000.00 1,000,000.00 500,000.00 35.32000 35.45000 35.58500 35.63500 January 12, 2009 January 12, 2009 January 12, 2009 January 12, 2009 USD 500,000.00 35.68500 January 12, 2009 USD 293,173.45 34.31440 January 12, 2009 USD 364,245.80 33.81920 February 9, 2009 USD 327,086.53 33.81920 February 9, 2009 USD 406,380.23 34.25500 February 23, 2009 USD 1,167,794.20 34.73000 March 11, 2009 USD 1,000,000.00 34.31000 March 19, 2009 USD 91,937.20 34.26500 March 23, 2009 USD 1,161,540.00 34.18000 April 14, 2009 USD 500,000.00 34.13000 April 16, 2009 USD 500,000.00 34.09500 April 16, 2009 USD 500,000.00 34.04000 April 16, 2009 USD 1,000,000.00 34.08000 April 16, 2009 USD 500,000.00 34.05000 April 16, 2009 USD 511,335.42 34.06000 April 16, 2009 USD 499,317.29 34.05000 April 16, 2009 USD 500,000.00 35.04950 May 4, 2009 USD 410,350.00 35.03980 May 6, 2009 USD 278,800.00 34.90000 May 13, 2009 USD 500,000.00 35.78870 June 2, 2009 USD 500,000.00 35.66665 June 3, 2009 USD 500,000.00 35.71665 June 3, 2009 USD 500,000.00 35.60624 June 5, 2009 USD 500,000.00 35.53450 June 9, 2009 USD 232,011.95 35.03780 June 15, 2009 USD 500,000.00 35.43310 June 15, 2009 USD 1,000,000.00 35.41310 June 15, 2009 USD 652,506.60 35.39310 June 15, 2009 17,896,478.67 2007 Fair value of financial instruments Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties in an arm’s length transaction. Fair values are obtained from quoted market prices or discounted cash flow models. The carrying values of financial assets and liabilities is approximate their fair values except for liabilities under financial leases and hire-purchase cannot be calculated their fair values, accordingly, no disclosure is made.
Appears in 1 contract
Samples: Unique Mining Services
