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## (b) Credit risk 

Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. this would arise principally from the Group’s receivables from customers. the nature of the customer base is such that there is no individual customer concentration of credit risk. other financial instruments which potentially subject the Group to credit risks principally consist of bank balances, loans, advances and refund of taxes. 

## Trade and other receivables 

the nature of the customer base is such that there is no individual customer concentration of credit risk. the Group does not carry out credit evaluations for all new customers requiring credit. Credit is generally only given to government or local council backed institutions. 

## Exposure to credit risk 

the below balances are recorded at their carrying amount after any provision for loss on these financial instruments. the maximum exposure to credit risk at reporting date was: 

<img src='content_image/180699.jpg'>

As at balance date the carrying amount is also considered the fair value for each of the financial instruments. 

## (c) Liquidity risk 

liquidity risk is the risk that an unforeseen event or miscalculation in the required liquidity level will result in the Group foregoing investment opportunities or not being able to meet its obligations in a timely manner, and therefore gives rise to lower investment income or to higher borrowing costs than normal. prudent liquidity risk management includes maintaining sufficient cash, and ensuring the availability of funding from adequate amounts of credit facilities. 

the Group’s liquidity exposure is managed by ensuring sufficient levels of liquid assets and committed facilities 

are maintained based on regular monitoring of cash flow forecasts. the Group has lending facilities of $142,671,855 (2011: $126,311,631) and operates well within this facility. this includes short term bank overdraft requirements, and at balance date no bank accounts were in overdraft. 

the table below analyses the Group’s financial liabilities and net-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance date to the contractual maturity date. the amounts disclosed in the table are the contractual undiscounted cash flows. 

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