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L.V. TECHNOLOGY Public Company Limited Annual Report 2011

Notes to the financial statements For the years ended 31 December 2011 and 2010

Liquidity risk The Group monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate to finance the Group’s operations and to mitigate the effects of fluctuations in cash flows. As at 31 December 2011, the Company had credit facilities in amount of Baht 3,262.3 million. (2010: Baht 883.2 million). Determination of fair values Since the majority of the financial assets and liabilities classified as short-term and loans are bearing interest at rates closed to current market rate, the management believes that as at 31 December 2011 and 2010, the carrying amount of the Group’s financial instruments did not materially differ from their aggregate fair value.

32 Commitments with non-related parties The Group has operating leases contracts. The future aggregate minimum lease payments under non-cancellable operating leases are as follows: Consolidated financial statements

2011

Non-cancellable operating lease commitments Within one year After one year but within five years Total

2,049 4,809 6,858

2010

7,458 2,700 10,158

(in thousand Baht)

Separate financial statements

2011

2,049 4,809 6,858

2010

7,458 2,700 10,158

As at 31 December 2011: 1) the Group had outstanding letter of credits in the amount of Baht 12 million, USD 13 million and JPY 795 million. (2010: USD 5 million, EUR 2.3 million and YEN 30 million). 2) the Group had contingent liabilities for letter of guarantee issued by local financial institutions in respect of ordinary course of business in the amount of USD 11 million and EUR 2 million. (2010: USD 11 million, EUR 0.3 million and Baht 2 million).

33 Thai Financial Reporting Standards (TFRS) not yet adopted The Group has not adopted the following new and revised TFRS that have been issued as of the reporting date but are not yet effective. The new and revised TFRS are anticipated to become effective for annual financial periods beginning on or after 1 January in the year indicated in the following table.

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LVT : Annual Report 2011  
LVT : Annual Report 2011  

Annual Report 2011

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