v2.4.0.6

SHORT-TERM BANK BORROWINGS | 12 Months Ended
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Mar. 31, 2012
Debt Disclosure [Abstract] |
Short Term Bank Borrowings [Text Block] |
13. | SHORT-TERM BANK BORROWINGS
Short-term bank borrowings comprise of the followings:
|  |  |  |  | As of March 31, |  |  | As of March 31, |
|  | Note |  |  | 2012 |  |  | 2011 |
|  |  |  |  | US$’000 |  |  | US$’000 |
Short-term bank loans |  |  | (i) |  |  |  | 52,090 |  |  |  | 35,770 |
Bills financing |  |  | (ii) |  |  |  | 116,747 |  |  |  | 29,389 |
|  |  |  |  |  |  | 168,837 |  |  |  | 65,159 |
| (i) | Short-term bank loans
Short-term bank loans represent amounts due to various banks which are due within 12 months, and these loans can normally be renewed with the banks upon expiry/maturity. The loans are collateralized by assets of the Company with carrying values as follows:
|  | As of March 31, |  |  | As of March 31, |
|  | 2012 |  |  | 2011 |
|  | US$’000 |  |  | US$’000 |
Long term land lease prepayments and buildings |  |  | 4,142 |  |  |  | - |
Trade receivables |  |  | 11,090 |  |  |  | 5,038 |
|  |  | 15,232 |  |  |  | 5,038 |
Various parties have also issued guarantee against these short-term bank loans as follows:
|  | As of March 31, |  |  | As of March 31, |
|  | 2012 |  |  | 2011 |
|  | US$’000 |  |  | US$’000 |
Corporate and personal guarantees issued by related parties (Note 15(d)) |  |  | 24,524 |  |  |  | 25,389 |
Corporate guarantees issued by third parties |  |  | 1,426 |  |  |  | 5,343 |
Corporate and personal guarantees issued jointly by related parties and a third party (Note 15(d)) |  |  | 11,881 |  |  |  | - |
The weighted average annual interest rates of the short-term bank loans were 6.01% and 5.05% as of March 31, 2012 and 2011 respectively.
| (ii) | Bills financing
Bill financing represents amounts due to various banks which are repayable within nine months from the date of issue. As of March 31, 2012 and 2011, the bills are secured by certain restricted bank balances of the Company with carrying value of US$69,066,000 and US$14,122,000 and guaranteed by certain related parties and third parties jointly to the extent of US$59,414,000 and US$8,238,000, respectively. The weighted average annual interest rates of the bills financing were 4.29% and 3.31% as of March 31, 2012 and 2011, respectively.

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- Definition The entire disclosure for short-term bank borrowings. + References No definition available. + Details
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