NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
89
Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
Notes to the financial statements
15 Financial risk management (Cont’d)
Interest rates used in determining fair values
The interest rates used to discount estimated cash flows, where applicable, are as follows:
Group
2015
2014
%
%
Term loans
1.50 – 5.33
2.00 – 4.25
Finance lease liabilities
2.00 – 4.18
1.35 – 3.45
Fair value hierarchy
The tables below analyse fair value measurements for financial assets and financial liabilities, by the levels in
the fair value hierarchy based on the inputs to valuation techniques. The different levels are defined as follows:
•
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities that the Group can
access at the measurement date.
•
Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or
liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
•
Level 3: unobservable inputs for the asset or liability.
Financial liabilities not carried at fair value but for which fair values are disclosed *
Level 1
Level 2
Level 3
Total
$’000
$’000
$’000
$’000
Group
31 December 2015
Loans and borrowings
–
–
15,403
15,403
31 December 2014
Loans and borrowings
–
–
4,274
4,274
*
Excludes financial assets and liabilities whose carrying amounts, measured on the amortised cost basis, approximate their fair
values due to their short-term nature and where the effect of discounting is immaterial.
