156
13 FINANCIAL DERIVATIVE LIABILITIES
HBT Group
H-REIT Group
Stapled Group
2015
2014
2015
2014
2015
2014
$’000
$’000
$’000
$’000
$’000
$’000
Current liabilities
Interest rate swap
used for hedging
–
–
–
581
–
581
The H-REIT Group has an interest rate swap contract with a notional amount of $nil (2014: $100,311,000).
In 2014, the H-REIT Group and the Stapled Group used interest rate swaps to manage their exposures to interest rate
movements on the floating rate interest-bearing bank loans by swapping the interest expense of a bank loan from
floating rate to fixed rate (Note 12).
14 DEFERRED TAX
Movement in temporary differences during the year:
Balance Recognised in
Balance Recognised in
Balance
as at
Statement of Exchange
as at
Statement of Exchange
as at
1/1/2014 Total Return differences 31/12/2014 Total Return differences 31/12/2015
$’000
$’000
$’000
$’000
$’000
$’000
$’000
H-REIT Group
Deferred tax assets
Tax losses
carried forward
(3,826)
(1,752)
243
(5,335)
174
266
(4,895)
Deferred tax liabilities
Investment properties 13,677
2,754
(540)
15,891
(273)
(425)
15,193
Net deferred
tax liabilities/
(assets)
9,851
1,002
(297)
10,556
(99)
(159)
10,298
Stapled Group
Deferred tax assets
Tax losses carried
forward
(3,826)
(1,752)
243
(5,335)
174
266
(4,895)
Deferred tax liabilities
Investment properties 13,677
2,704
(543)
15,838
(218)
(427)
15,193
Net deferred
tax liabilities/
(assets)
9,851
952
(300)
10,503
(44)
(161)
10,298
NOTES TO THE FINANCIAL STATEMENTS
