Fair value through profit or loss investments are restricted to securities that are in accordance with paragraphs 18(a) – (d) of the CAC Act, including, as a minimum, a Standard and Poor’s long-term rating of A-. Further restrictions are imposed under the policies and procedures of the Corporation. The majority of loans and receivables are cash and levies from industry. The Corporation manages its credit risk through: A monthly review by management of the Corporation’s investments: to ensure that they are in accordance with section 18 of the CAC Act and the Corporation’s policies and procedures; and to assess how the investments are performing against various benchmarks (including the Cash Rate, the 90 Day Bank Bill Index and the UBS Government Bond Index 0-5 years); A biannual review by the Finance, Risk and Audit Committee of the performance of the Corporation’s individually managed funds in comparison with other managed funds investing in the Australian Bond and Australian Cash sectors; and Policies and procedures that guide employees in managing debtors. The Corporation holds no collateral to mitigate against credit risk. Credit quality of financial instruments not past due or individually determined as impaired Not past Not past Past due Past due due nor due nor or or impaired impaired impaired impaired 2013 2012 2013 2012 $’000 $’000 $’000 $’000 Cash and cash equivalents 72,253 77,860 - - Trade and other receivables 21,386 16,709 281 416 Managed funds 113,767 - 147,391 - Shares in unlisted companies 7,811 8,107 19,122 16,149 Total 248,841 216,443 19,403 16,565 Ageing of financial assets that are past due but not impaired for 2013 0 to 30 31 to 60 61 to 90 90+ Total days days days days $’000 $’000 $’000 $’000 $’000 Receivables 45 - - 236 281 Total 45 - - 236 281 Ageing of financial assets that are past due but not impaired for 2012 0 to 30 31 to 60 61 to 90 90+ Total days days days days $’000 $’000 $’000 $’000 $’000
Fair value through profit or loss investments are restricted to securities that are in accordance with paragraphs 18(a) – (d) of the CAC Act, including, as a minimum, a Standard and Poor’s long-term rating of A-. Further restrictions are imposed under the policies and procedures of the Corporation. The majority of loans and receivables are cash and levies from industry. The Corporation manages its credit risk through: A monthly review by management of the Corporation’s investments: to ensure that they are in accordance with section 18 of the CAC Act and the Corporation’s policies and procedures; and to assess how the investments are performing against various benchmarks (including the Cash Rate, the 90 Day Bank Bill Index and the UBS Government Bond Index 0-5 years); A biannual review by the Finance, Risk and Audit Committee of the performance of the Corporation’s individually managed funds in comparison with other managed funds investing in the Australian Bond and Australian Cash sectors; and Policies and procedures that guide employees in managing debtors. The Corporation holds no collateral to mitigate against credit risk. Credit quality of financial instruments not past due or individually determined as impaired Not past due nor impaired 2013 $’000 Not past due nor impaired 2012 $’000 Past due or impaired 2013 $’000 Past due or impaired 2012 $’000 Cash and cash equivalents 72,253 77,860 - - Trade and other receivables 21,386 16,709 281 416 Managed funds 147,391 113,767 - - Shares in unlisted companies 7,811 8,107 19,122 16,149 Total 248,841 216,443 19,403 16,565 Ageing of financial assets that are past due but not impaired for 2013 0 to 30 days $’000 31 to 60 days $’000 61 to 90 days $’000 90+ days $’000 Total $’000 Receivables 45 - - 236 281 Total 45 - - 236 281 Ageing of financial assets that are past due but not impaired for 2012 0 to 30 days $’000 31 to 60 days $’000 61 to 90 days $’000 90+ days $’000 Total $’000
grdc-annual-report-2012-13-in-word-docx.docx