Page 126 - Annual Report 2020

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8. Cash and cash equivalents

Cash and cash equivalents included in the statement

of cash flows consist of the following:

2020 | USD’000 2019 | USD’000

Bank balances 3,582 5,919

Short-term deposits* 27,872 24,007

Cash and cash equivalents as per statement of cash flows 31,454 29,926

Less: provision for expected credit losses of short-term deposits (73) (63)

Cash and bank balances as per the statement of financial position 31,381 29,863

* These represent deposits with banks held for the

purpose of meeting short-term cash commitments,

having interest rates up to 2.75% (2019: 4.1%).

The movement in the provision for expected credit

losses of short-term deposits is as follows:

2020 | USD’000 2019 | USD’000

Balance as at 1 January 63 68

Charge/(reversal) for the year 10 (5)

Balance as at 31 December 73 63

T ABLE OF C ONTENT S