Gardens By the Bay 2019/2020

FINANCIAL STATEMENTS 120 NOTES TO FINANCIAL STATEMENTS 31 March 2020 (a) The Company determines the expected credit losses on these items by using a provision matrix, estimated based on historical credit loss experience based on the past due status of the debtors, adjusted as appropriate to reflect current conditions and estimates of future economic conditions. The Company has adopted procedures in extending credit terms to customers and in monitoring its credit risk. Trade and other receivables that are neither past due nor impaired have been assessed to be creditworthy based on the credit evaluation process performed by management. The Company only grants credit to creditworthy counterparties. (b) The Company has assessed other receivables and Government grant receivable to have a low risk of default and does not have any past-due amounts. • Liquidity risk management The Company monitors and maintains sufficient cash and cash equivalents to finance its operations. Funding is also made available through the surplus from its operations and government grants. All financial liabilities are repayable on demand or due within 1 year from the end of the reporting period, except for lease liabilities as disclosed in Note 14. • Fair values of financial assets and financial liabilities The carrying amounts of financial assets and financial liabilities reported in the statement of financial position approximate their respective fair values due to the relatively short-term maturity of these financial instruments. (c) Capital management policies and objectives The Company manages its capital to ensure that it will be able to continue as a going concern. The capital structure of the Company consists of accumulated funds. The Company’s overall strategy remains unchanged from the previous financial year.