KIM HENG OFFSHORE & MARINE HOLDINGS LIMITED
ANNUAL REPORT 2014
90
NOTES
TO THE FINANCIAL STATEMENTS
16
FINANCIAL RISK MANAGEMENT (Cont’d)
Fair values versus carrying amounts
The fair values of the financial assets and liabilities, together with the carrying amounts shown in the
statement of financial position, are as follows:
Loans and
receivables
Other
financial
liabilities
Other
financial
liabilities
outside the
scope of
FRS 39
Total
carrying
amount
Fair
value
$’000
$’000
$’000
$’000
$’000
Group
2014
Assets
Loans and receivables
13,695
–
–
13,695
13,695
Cash and cash equivalents
49,894
–
–
49,894
49,894
63,589
–
–
63,589
63,589
Liabilities
Loans and borrowings
–
(6,267)
(1,860)
(8,127)
(7,803)
Trade and other payables
–
–
–
(17,814)
(17,814)
–
(6,267)
(1,860)
(25,941)
(25,617)
2013
Assets
Loans and receivables
27,457
–
–
27,457
27,457
Cash and cash equivalents
3,504
–
–
3,504
3,504
30,961
–
–
30,961
30,961
Liabilities
Loans and borrowings
–
(4,541)
(3,642)
(8,183)
(7,857)
Trade and other payables
–
(17,149)
–
(17,149)
(17,149)
–
(21,690)
(3,642)
(25,332)
(25,006)
Interest rates used in determining fair values
The interest rates used to discount estimated cash flows, where applicable, are as follows:
Group
2014
2013
%
%
Term loans
2.00 – 4.25 2.20 – 6.50
Finance lease liabilities
1.35 – 3.45 1.88 – 3.48
