NewWorld Development Company Limited
MANAGEMENT DISCUSSION AND ANALYSIS
40
FY2015
29%
71%
21%
79%
Unsecured
Secured
FY2014
Nature of
Debts
FY2015
11%
29%
60%
22%
19%
59%
HKD
RMB
USD & Others
FY2014
The RMB1,000.0 million (equivalent to approximately HK$1,250.0 million) 2.75% guaranteed bonds
due 2014, which were issued by a subsidiary of the Group and listed on The Singapore Exchange
Securities Trading Limited, matured on 14 July 2014. Such bonds were fully redeemed by that
subsidiary at their principal amount on the said maturity date.
The RMB4,300.0 million (equivalent to approximately HK$5,375.0 million) 8.5% bonds due 2015, which
were issued by a subsidiary of the Group and listed on the Stock Exchange of Hong Kong Limited,
matured on 13 April 2015. Such bonds were fully redeemed by that subsidiary of the Group at their
principal amount on the said maturity date and there was no outstanding balance of such bonds as at
30 June 2015.
As at 30 June 2015, the Group’s cash and bank balances (including restricted bank balances) stood
at HK$59,465.2 million (2014: HK$61,823.2 million) and the consolidated net debt amounted to
HK$53,539.1 million (2014: HK$54,738.8 million). The net debt to equity ratio was 24.1%, a decrease
of 3.2 percentage points as compared with FY2014.
Maturity profile
As at 30 June 2015, the Group’s long-term bank loans, other loans and fixed rate bonds and notes
payable amounted to HK$109,726.7 million. Short-term bank and other loans as at 30 June 2015 were
HK$3,277.6 million. The maturity of bank loans, other loans and fixed rate bonds and notes payable as
at 30 June 2015 was as follows:
HK$m
Within one year
30,534.7
In the second year
16,656.8
In the third to fifth year
50,128.3
After the fifth year
15,684.5
Total
113,004.3
As at 30 June 2015, the Group’s assets of HK$61,374.1 million and certain shares of subsidiaries of
the Group were pledged as securities for certain banking facilities of the Group. Equity of the Group as
at 30 June 2015 increased to HK$222,358.0 million against HK$200,276.5 million as at 30 June 2014.
Currency
Profile of
Borrowings
