NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
87
Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
Notes to the financial statements
15 Financial risk management (Cont’d)
Estimations of the fair value
The following summarises the significant methods and assumptions used in estimating the fair values of
financial assets and liabilities of the Group.
Non-derivative financial liabilities (non-current)
Fair value, which is determined for disclosure purposes, is calculated based on the present value of future
principal and interest cash flows, discounted at the market rate of interest at the reporting date. For finance
leases and term loans, the market rate of interest is determined by reference to similar lease and loan
agreements, respectively.
The carrying amounts of floating interest non-current loans and borrowings, where interest rates reprices
within 1 year from reporting date, are assumed to reflect the corresponding fair values of the financial liabilities,
given the short repricing period.
Other financial assets and liabilities
The carrying amounts of financial assets and liabilities with a maturity of less than one year (including trade
and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables) are
assumed to approximate their fair values due to the short period to maturity.
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
2015
Assets
Loans and receivables
14,432
–
–
14,432
14,432
Cash and cash equivalents
32,804
–
–
32,804
32,804
47,236
–
–
47,236
47,236
Liabilities
Loans and borrowings
–
(13,624)
(10,230)
(23,854)
(22,828)
Trade and other payables
–
(13,284)
–
(13,284)
(13,284)
–
(26,908)
(10,230)
(37,138)
(36,112)
