HG Metal Manufacturing Ltd - Annual Report 2014 - page 78

76 HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
5. OTHER OPERATING INCOME
Group
2014 2013
$’000 $’000
Allowance for doubtful trade receivables no longer required,
now written back 45 21
Bad debts recovered 1 –
Write back of allowance for stock obsolescence – 24
Write back of accruals for rectification work (Note 20) – 690
Claims and compensation received 261 121
Fair value gain on investment held for trading 57 –
Fair value gain on derivatives
– forward currency contracts – 34
Dividend income – 5
Gain on disposal of property, plant and equipment 135 34
Commission income – 80
Interest income
– fixed deposits 15 38
– current accounts with banks 30 90
– money market deposits – 24
Operating lease income 2,329 1,722
Foreign exchange gain, net 224 –
Warehouse and handling fee income 728 389
Recognition of deferred income (Note 23) 1,429 1,309
Sundry income 308 396
5,562 4,977
6. FINANCE COSTS
Group
2014 2013
$’000 $’000
Interest expense
– bankers’ acceptance 18 115
– bridging loans – 13
– finance lease 6 20
– term loans 287 253
– trust receipts 487 1,079
– late payment 24 208
822 1,688
Other finance costs
– invoice financing 29 39
851 1,727