Page 76 - Demo

74NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)23. Risk management (continued)Credit riskThe Group considers its credit risk with trade debtors to be limited due to the large number of customers comprising the Group%u2019s customer base. The Group grants credit based on evaluations of its customers%u2019 financial situation, and continually monitors the exposure of potential losses from granting credit. The maximum exposure is equal to the carrying amount of trade debtors.With respect to credit risk arising from other financial assets which primarily comprises of cash and cash equivalents, the exposure to credit risk arises from default of the counter party. These deposits are placed with highly rated local financial institutions.The following table shows the gross maximum exposure to credit risk for the financial assets and commitments:The Company%u2019s credit risk exposure is geographically concentrated in Trinidad and Tobago. The Company%u2019s credit risk exposure by industry sector of its counterparties is as follows:2012 2011$ $Government and Government agencies 7,763 6,060Financial services sector 127,413 110,840Marketing sector 15,954 17,507Other 10,535 8,311161,665 142,718Gross Maximum Exposure2012 2011$ $Trade and other receivables 34,252 31,878Cash and short-term deposits 127,413 110,840Total credit risk exposure 161,665 142,718Guardian_Media_Annual_Report2012.indd 74 4/17/13 7:31 PM