Interest rate risk As of December 31, 2010 and 2009 the Company has financial assets and liabilities exposed to interest rate risk as follows: Financial assets Deposits at banks Financial liabilities Finance lease obligations Long - term loans from others
2010 Amount (Million Baht) Financial assets and liabilities with interest rate Average Interest Rate (%) Fixed Maturing In: 1 year over 1 to Floating or less 5 years Floating Fixed 11.29 0.45 - 0.55 - 0.65 0.50 - 2.25 - 4.51 13.75 - 3.05 - 6.10 89.11 - - 5.50 - 6.50 -
Financial assets Deposits at banks Financial liabilities Bank overdrafts Finance lease obligations Long - term loan from related person Long - term loans from others
2009 Amount (Million Baht) Financial assets and liabilities with interest rate Average Interest Rate (%) Fixed Maturing In: 1 year over 1 to Floating or less 5 years Floating Fixed 0.04 0.45 - 0.25 - 0.50 0.50 - 2.25 2.20 - - 6.875 - - 1.34 0.28 - 3.05 - 4.20 23.50 - - 6.40 - 11.95 - - 5.375 - 6.375 -
Credit risk Credit risk refers to the risk primarily deal with the trade account receivables. However, since the majority of sales are supplied to creditworthy customers, the Company does not anticipate material losses from their debt collection. In the case of recognized account receivables, the carrying amount of account receivables recorded in the balance sheet represents maximum exposure to credit risk. Fair value The managements believe that the fair value of the Company’s financial assets and liabilities does not materially differ from their carrying value.
25. RECLASSIFICATION OF ACCOUNTS
Certain accounts in financial statements as presented herein for comparative purpose have been reclassified to conform with the current year classifications, with no effect on the net profit or shareholders’ equity as previously reported.
26. APPROVAL OF FINANCIAL STATEMENTS
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The financial statements have been approved by authorized directors of the Company on February 1, 2011.