| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 7 |
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2013
R’000 |
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2012
R’000 |
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| 7. |
Loans receivable |
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Interest-free loans |
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21 285 |
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23 148 |
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Interest-bearing loans receivable |
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16 146 |
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8 336 |
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37 431 |
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31 484 |
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Less: Amounts included in current portion of
loans receivable |
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(36 431) |
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(30 049) |
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1 000 |
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1 435 |
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Non-interest-bearing loans are unsecured and
have no fixed terms of repayment. Interes-tbearing
loans bear interest at an average of
between prime and prime plus 2% and are
unsecured. Interest-bearing loans amounting to
R7.9 million have no repayment terms; the
remaining balance is repayable over an average of
one year. |
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The loans receivable are neither past due nor
impaired with a low risk of default. Of this amount,
R20 million (2012: R23 million) relates to loans
receivable from related parties, which are interest
free (refer to ). |
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| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 7 |
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