Note 29- Financial instruments

Credit risk

Exposure to credit risk:

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was

	Note	2010	2009
Due from related parties-non current	33	1,044	21,039
Other non-current assets*	16	15,258	11,996
Available-for-sale financial assets	15	-	62,398
Due from related parties-current	33	88,897	108,843
Trade receivables and accrued income	18	851,175	783,752
Other current assets*	19	56,170	29,284
Cash and cash equivalents**	20	3,294,206	3,095,329
Time deposits maturing in 3 months or more	15	8,201	-
		4,314,951	4,112,641

* Non-financial instruments such as prepaid expenses and advances given are excluded from other current assets and other non-current assets.
** Cash on hand is excluded from cash and cash equivalents.
The maximum exposure to credit risk for trade receivables arising from sales transactions including those classified as due from related parties at the reporting date by type of customer is:

	2010	2009
Receivable from subscribers	798,404	710,747
Receivables from distributors and other operators	71,044	85,949
Other	3,199	1,312
	872,647	798,008

The aging of trade receivables and due from related parties as at 31 December 2010 and 2009:

	2010	2009
Not past due	738,697	746,545
1-30 days past due	74,665	38,406
1-3 months past due	56,004	47,031
3-12 months past due	71,750	81,310
1-5 years past due	-	342
	941,116	913,634

Impairment losses
The movement in the allowance for impairment in respect of trade receivables and due from related parties as at 31 December 2010 and 2009 is as follows:

	2010	2009
Opening balance	268,157	196,637
1-30 days past due	126,257	75,379
1-3 months past due	(9,976)	(7,978)
3-12 months past due	(7,630)	4,119
Closing balance	376,808	268,157

The impairment loss recognized of $126,257 for the period ended 31 December 2010 relates to its estimate of incurred losses in respect of trade receivables and due from related parties.

The allowance accounts in respect of trade receivables and due from related parties is used to record impairment losses unless the Group is satisfied that no recovery of the amount owing is possible; at that point the amount considered irrecoverable and is written off against the trade receivables and due from related parties directly.

Liquidity risk
Current cash debt coverage ratio as at 31 December 2010 and 2009 is as follows:

	2010	2009
Cash and cash equivalents	3,302,163	3,095,486
Current liabilities	1,812,915	2,296,511
Current cash debt coverage ratio	182%	135%