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130

At 1 January

61,728

63,091

Amounts recovered

(1,363)

Increase in allowance recognised in profit or loss

549

The concentration of credit risk is limited due to the customer base being large and unrelated. Accordingly, the Directors believe that there is no further credit provision required in excess of the allowance for doubtful debts.

2010

2009

HK$000

HK$000

62,277

61,728

Notes to the Consolidated Financial Statements

For the year ended 31 December 2010

At 31 December

26.Debtors, deposits and prepayments (continued)

Movement in the allowance for doubtful debts

27.Financial assets carried at fair value through profit or loss

2010 HK$000

2009 HK$000

77,740

120,296 297,889

77,740 (77,740)

418,185 (340,634)

77,551

Held-for-trading listed securities in Hong Kong:

  • Champion REIT

Structured notes designated as at FVTPL

Less: Amounts due within one year shown under current assets

Amounts due after one year

At 31 December 2010, the Group held a principal protected structured note with principal amount of US$10,000,000 (equivalent to HK$77,740,000) (2009: US$38,412,000 (equivalent to HK$297,889,000)) with a bank with maturity in September 2011 (2009: maturity ranging from 2010 to 2011). The structured note contains embedded derivatives with their interest components linked to foreign exchange rate movements which are not closely related to the host contracts. The entire structured notes have been designated as at financial assets at FVTPL on initial recognition.

The fair values of structured notes designated as at FVTPL at the end of the reporting periods are provided by counterparty banks and financial institution.

Great Eagle Holdings Limited

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