METKA GROUP | ANNUAL REPORT 2012 - page 121

119
Financial statements from the 1st of January to the 31st of December 2012
In order to address the above risks, the Group proceeds to the 100% insurance against such risks to cover
the total value of projects and activities with all-risk insurance policies (Erection All Risks & Construction All
Risks), including civil liability, employer liability, machinery, vehicles etc to renowned international insurance
firms.
However, the existing insurance policies cannot always fully cover possible damages from unexpected events
such as natural disaster, war or terrorist attacks.
c) Risks arising from geopolitical factors
Apart from the Group’s activity in Syria, there is no foreseeable risk for the Company due to geopolitical factors.
Concerning the activity in Syria, it should be clear that METKA is not subjected into investor’s risks but to the
risks of a manufacturer with assured funding and confirmed credit. Nevertheless, the postponement of works
for a certain period, the necessity for extremely high safety measures, our extended presence in the Project, the
increased freight and insurance charges, and the extraordinary, in general, conditions under which the Project
continues today, have increased significantly the cost although not to a degree which hinders its continuation,
expecting of course a compensation from the client for all proven over-expenses which are imposed to us for
reasons outside our responsibility.
40.7 Summary of financial assets and liabilities by category
The analysis of financial assets and liabilities by category is as follows:
1...,111,112,113,114,115,116,117,118,119,120 122,123,124,125,126,127,128
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