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76NOTES 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)Liquidity riskLiquidity risk is the risk that the Group will be unable to meet its payment obligation under normal and stress circumstances. The Group monitors its liquidity risk by considering the maturity of both its financial investments and financial assets and projected cash flows from operations. Where possible the Group utilizes surplus internal funds to a large extent to finance its operations and ongoing projects. However, the Group also utilizes available credit facilities such as loans and other financing options where required.The table summarises the maturity of the Group%u2019s financial liabilities at 31 December based on undiscounted repayment obligations over the remaining life of those liabilities:Within1 Within 31 December 2012 On demand year 1 to 5 years >5 years Total $ $ $ $ $ Borrowings %u2013 12,728 17,078 %u2013 29,806 Trade and other receivables %u2013 22,083 %u2013 %u2013 22,083 %u2013 34,811 17,078 %u2013 51,889 Liquidity riskWithin1 Within 31 December 2011 On demand year 1 to 5 years >5 years Total $ $ $ $ $ Borrowings %u2013 12,455 27,710 %u2013 40,165 Trade and other receivables %u2013 14,610 %u2013 %u2013 14,610 %u2013 27,065 27,710 %u2013 54,775Guardian_Media_Annual_Report2012.indd 76 4/17/13 7:31 PM