175
Annual Report 2015
27 FINANCIAL INSTRUMENTS (CONT’D)
Liquidity risk (cont’d)
Cash flows
Carrying Contractual
Within
Within More than
amount cash flows 1 year 1 to 5 years 5 years
$’000
$’000
$’000
$’000
$’000
Stapled Group
2015
Non-derivative financial liabilities
Fixed rate medium term note
119,935 (127,257)
(3,008)
(124,249)
–
Floating rate medium term note
83,572
(84,748)
(84,748)
–
–
Variable rate bank loans
283,401 (297,472)
(140,427)
(157,045)
–
Fixed rate bank loans
399,742 (447,705)
(11,670)
(436,035)
–
Secured TMK bond
35,694
(37,439)
(239)
(37,200)
–
Trade and other payables *
31,896
(31,896)
(31,896)
–
–
Rental deposits
9,092
(11,119)
(469)
(1,488)
(9,162)
963,332 (1,037,636)
(272,457)
(756,017)
(9,162)
2014
Non-derivative financial liabilities
Fixed rate medium term note
119,932 (130,258)
(3,000)
(127,258)
–
Floating rate medium term note
83,512
(85,318)
(1,064)
(84,254)
–
Variable rate bank loans
472,663 (407,661)
(403,803)
(3,858)
–
Fixed rate bank loans
98,825 (205,197)
(4,629)
(200,568)
–
Trade and other payables *
38,625
(38,625)
(38,625)
–
–
Rental deposits
8,091
(10,314)
(1,026)
(126)
(9,162)
821,648 (877,373)
(452,147)
(416,064)
(9,162)
Derivative financial instrument
Interest rate swap
581
(703)
(703)
–
–
*
Excluding rental deposits
The maturity analyses show the contractual undiscounted cashflows of the Stapled Group’s financial liabilities on the
basis of their earliest possible contractual maturity. Derivative financial instrument held is normally not closed out prior
to contractual maturity. The disclosure shows net cashflows for derivative financial instrument that is net cash settled.
Derivative financial instrument is designated as cash flow hedge. The table above reflects the periods in which the cash
flows associated with cash flow hedge are expected to occur and impact the total return.
Market risk
Market risk is the risk that changes in market prices, such as interest rates and foreign exchange rates, will affect the
HBT Group’s comprehensive income and H-REIT Group’s and the Stapled Group’s total return. The objective of market
risk management is to manage and control market risk exposures within acceptable parameters, while optimising the
return on risk.
NOTES TO THE FINANCIAL STATEMENTS
