SINGAPORE CHINESE CHAMBER OF COMMERCE & INDUSTRY

NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2022

9. LEASES (cont’d) As lessor (cont’d)

The sublease of certain office units is classified as finance lease. The Chamber recognised a finance lease receivables.

Future minimum rentals receivables under non-cancelling finance leases as at 31 December are as follows:

10. OTHER ASSETS

Other assets pertain to heritage assets purchased by the Chamber and are measured at cost less subsequent impairment losses, if any. 11.

SINGAPORE CHINESE CHAMBER OF COMMERCE & INDUSTRY

NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2022

11. RECEIVABLES (cont’d)

Deferred rent receivables represent the portion of rental and service charges arising from unexpired rent-free period which is apportioned over the period of the leases.

Other receivables and dividend receivable are unsecured, non-interest bearing and are receivable on demand in cash and cash equivalents.

Receivables are denominated in Singapore dollars.

12. AMOUNTS DUE FROM SUBSIDIARIES AND RELATED ENTITIES

Amounts due from subsidiaries and related entities are non-trade in nature, unsecured, noninterest bearing, repayable on demand, and are to be settled in cash.

13. CASH AND CASH EQUIVALENTS

Cash and cash equivalents included in the statement of cash flows comprise the following balance sheet amounts:

Fixed deposits placed with financial institutions have maturity ranging from 1 - 12 months (2021: 1 - 12 months) from the end of the financial year, with interest rates ranging from 0.08% to 1.36% (2021: 0.15% to 0.40%) per annum.

Cash and bank balances are denominated in Singapore dollars.