15 FINANCIAL RISK MANAGEMENT (CONTINUED)
15.4 Liquidity risk (continued)
<------------ Cash flows ------------>
Carrying Contractual Less than
Between More than
amount cash flows
1 year 1 to 5 years
5 years
Trust
$’000
$’000
$’000
$’000
$’000
2014
Non-derivative financial liabilities
Commodity Murabaha Facilities
220,117
(239,013)
(5,986)
(233,027)
–
Loans from subsidiaries
260,112
(301,094)
(11,113)
(289,981)
–
Trade and other payables*
26,596
(26,596)
(13,390)
(7,185)
(6,021)
506,825
(566,703)
(30,489)
(530,193)
(6,021)
Derivative financial liabilities
Profit rate swaps (net-settled)
1,617
(3,318)
(1,251)
(2,067)
–
2013
Non-derivative financial liabilities
Commodity Murabaha Facilities
377,714
(403,037)
(110,074)
(292,963)
–
Loans from subsidiaries
71,510
(84,683)
(3,263)
(81,420)
–
Trade and other payables*
25,189
(25,189)
(18,563)
(3,853)
(2,773)
474,413
(512,909)
(131,900)
(378,236)
(2,773)
Derivative financial liabilities
Profit rate swaps (net-settled)
4,600
(7,597)
(3,201)
(4,396)
–
* Trade and other payables exclude rental received in advance.
The maturity analyses show the contractual undiscounted cash flows of the Group and the Trust’s financial
liabilities on the basis of their earliest possible contractual maturity. For derivative financial instruments,
the cash inflows/(outflows) represent the contractual undiscounted cash flows relating to these instruments.
The amounts are compiled on a net basis for derivatives that are net-settled.
It is not expected that the cash flows included in the maturity analysis of the Group and the Trust could
occur significantly earlier, or at significantly different amounts.
15.5 Market risk
Market risk is the risk that changes in market prices, such as profit rates, foreign exchange rates and
equity prices will affect the Group’s total return or the value of its holdings of financial instruments.
The objective of market risk management is to manage and control market risk exposures within
acceptable parameters, while optimising the return on risk. The Group does not have any exposure to
foreign exchange rates and equity prices risks.
Year ended 31 December 2014
NOTES TO THE FINANCIAL STATEMENTS
SABANA REIT
|
ANNUAL REPORT 2014
128
