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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Asian Growth Properties | LSE:AGP | London | Ordinary Share | BMG054131021 | COM SHS USD0.05 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.05 | 0.10 | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
The Group's bank balances and cash that are denominated in currencies other than the functional currencies of the relevant group entities are set out below:
2014 2013 HK$'000 HK$'000 Hong Kong dollars 23 23 ======== ======== United States dollars 1,895 15,994 ======== ======== Renminbi 226,682 184,118 ======== ======== 29. PAYABLES, RENTAL DEPOSITS AND ACCRUED CHARGES 2014 2013 HK$'000 HK$'000 Trade payables 3,018 2,609 Rental deposits 115,925 113,185 Rental received in advance 16,399 12,052 Other payables, other deposits and accrued charges 166,642 162,233 -------------- -------------- 301,984 290,079 ======== ========
Included in other payables is an aggregate amount of HK$91,759,000 (2013: HK$87,876,000) payable to contractors for the cost in relation to the tenant relocation arrangements, excavation and infrastructure work on certain pieces of land as detailed in note 22.
Rental deposits to be settled after twelve months from the end of the reporting period based on the respective lease terms amounted to HK$71,151,000 (2013: HK$87,302,000).
30. BANK BORROWINGS 2014 2013 HK$'000 HK$'000 Secured 3,942,110 2,908,463 Unsecured 100,000 118,000 -------------- -------------- 4,042,110 3,026,463 Less: Front-end fee (22,376) (13,697) -------------- -------------- 4,019,734 3,012,766 ======== ======== Analysed for reporting purpose as: Current liabilities 436,569 1,290,658 Non-current liabilities 3,583,165 1,722,108 -------------- -------------- 4,019,734 3,012,766 ======== ========
The bank borrowings are repayable as follows:
On demand or within one year 438,380 1,291,791 More than one year, but not exceeding two years 1,385,866 395,152 More than two years, but not exceeding five years 1,139,133 1,082,914 More than five years 1,078,731 256,606 -------------- -------------- 4,042,110 3,026,463 ======== ========
All bank borrowings are denominated in the functional currencies of the relevant group entities and carry interest at floating rates, the principal amounts of which are analysed below:
Denominated Interest rates 2014 2013 in HK$'000 HK$'000 Hong Kong Hong Kong Interbank Offered Rate dollars ("HIBOR") plus 1.1% to 2.4% (2013: HIBOR plus 1% to 2.75%) 3,350,000 2,480,182 Renminbi 95% to 125% of People's Bank of China("PBOC") Prescribed Interest Rates(2013: 95% to 125% of PBOC Prescribed Interest Rates) 692,110 546,281 -------------- -------------- 4,042,110 3,026,463 ======== ========
The effective interest rates of these variable-rate borrowings range from 1.5% to 8.2% (2013: 1.5% to 8.2%) per annum.
31. SHARE CAPITAL 2014 and 2013 US$'000 Authorised: 1,300,000,000 ordinary shares of US$0.05 each 65,000 ========== Issued and fully paid: 886,347,812 ordinary shares of US$0.05 each 44,317 ========== HK$'000 Shown in the financial statements as 345,204 ========== 32. DEFERRED TAXATION
The following are the major deferred tax liabilities (assets) recognised and movements thereon during the current and prior reporting periods:
Accelerated Fair value Effective of tax investment rental Tax depreciation properties income losses Others Total HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 At 1 January 2013 14,829 265,283 19,142 (4,474) 3,962 298,742 Exchange adjustments - 7,791 617 (74) - 8,334 (credit) charge to profit or loss (871) 19,835 1,169 1,774 (3,052) 18,855 --------------- --------------- --------------- --------------- --------------- --------------- At 31 December 2013 13,958 292,909 20,928 (2,774) 910 325,931 Exchange adjustments - (828) (65) 2 - (891) Charge (credit) to profit or loss 2,582 (8,230) 1,143 (1,599) 567 (5,537) --------------- --------------- --------------- --------------- --------------- --------------- At 31 December 2014 16,540 283,851 22,006 (4,371) 1,477 319,503 ========= ========= ========= ========= ========= =========
For the purpose of presentation of the consolidated statement of financial position, deferred tax assets and liabilities have been offset and shown under non-current liabilities.
At 31 December 2014, the Group has unused tax losses of HK$101,826,000 (2013: HK$52,375,000) available to offset against future profits. A deferred tax asset has been recognised in respect of HK$17,484,000 (2013: HK$11,093,000) of such losses. No deferred tax asset has been recognised in respect of the remaining HK$84,342,000 (2013: HK$41,282,000) as it is not probable that taxable profit will be available to offset against the tax losses due to the unpredictability of future profit streams. The unrecognised tax losses will expire in the following years ending 31 December:
2014 2013 HK$'000 HK$'000 2014 - 605 2015 2,122 2,129 2016 1,556 1,562 2017 3,562 3,574 2018 5,093 5,111 2019 51,608 - -------------- -------------- 63,941 12,981 ======== ========
Other tax losses may be carried forward indefinitely.
33. FINANCIAL INSTRUMENTS (a) Categories of financial instruments 2014 2013 HK$'000 HK$'000 Financial assets Loans and receivables (including cash and cash equivalents) 3,111,301 2,222,354 Available-for-sale investments 3,882 - ======== ======== Financial liabilities Financial liabilities at amortised cost 4,267,619 3,267,050 ======== ======== (b) Financial risk management objectives and policies
The directors of the Company have overall responsibility for the establishment and oversight of the Group's risk management framework. The Group's risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls to monitor risks and adherence to market conditions and the Group's activities. The Group, through its training and management standards and procedures, aims to develop a constructive control environment in which all employees understand their roles and obligations. The directors of the Company monitor and manage the financial risks relating to the operations of the Group to ensure appropriate measures are implemented on a timely and effective manner. These risks include market risk (including primarily foreign currency risk and interest rate risk), credit risk and liquidity risk.
The Group's overall strategy remains unchanged from prior year.
Market risk
(i) Foreign currency risk
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