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Notes to the Consolidated Financial Statements

31st March 2017

22 CASH AND CASH EQUIVALENTS

2017 2016
HK$’000 HK$’000

Cash at bank and on hand 196,481 811,691
Short-term bank deposits 590,720 779,952
787,201 1,591,643

Maximum exposure to credit risk 786,397 1,591,029

As at 31st March 2017, the Group’s cash and cash equivalents of approximately HK$20,109,000 (2016:
HK$41,976,000) denominated in RMB were deposited with banks in Mainland China. The conversion of
these RMB denominated balances into foreign currencies and the remittance of funds out of Mainland
China is subject to the rules and regulations of foreign exchange control promulgated by the Mainland
China Government.

The cash and cash equivalents are denominated in the following currencies:

2017 2016
HK$’000 HK$’000
USD 667,398 773,858
RMB 84,773 151,576
HKD 30,781 666,100
Euro 1,291 6
New Taiwan dollar 1,058 –
Great British Pound 984 99
Danish Krone 912 –
Others 4 4
787,201 1,591,643

23 TRADE AND OTHER PAYABLES

2017 2016
HK$’000 HK$’000
Trade payables 250,407 290,455
Other payables and accruals 70,332 57,935
320,739 348,390

The carrying amounts of trade and other payables approximate to their fair values.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2017 95