New World Development Company Limited
132
Financial Section
4 Financial Risk Management and Fair Value Estimation
(continued)
(c) Liquidity risk
Prudent liquidity risk management includes managing the profile of debt maturities and funding sources, maintaining
sufficient cash and marketable securities, and ensuring the availability of funding from an adequate amount of
committed credit facilities and the ability to close out market positions. It is the policy of the Group to regularly
monitor current and expected liquidity requirements and to ensure that adequate funding is available for operating,
investing and financing activities. The Group also maintain adequate undrawn committed credit facilities to further
reduce liquidity risk in meeting funding requirements.
The table below analyses the Group’s non-derivative financial liabilities into relevant maturity groupings based on the
remaining period at the end of the reporting period to the contractual maturity dates. The amounts disclosed in the
table are the contractual undiscounted cash flows.
Non-derivative financial liabilities:
Carrying
amount
Total
contractual
undiscounted
cash flow
Within
1 year or on
demand
Over 1 year
but within
5 years
After
5 years
HK$m
HK$m
HK$m
HK$m
HK$m
At 30 June 2016
Creditors and accrued charges
22,256.1
22,260.6
19,761.1
2,489.0
10.5
Short-term borrowings
3,261.6
3,336.8
3,336.8
–
–
Long-term borrowings
131,670.5
148,989.7
21,128.8
101,432.3
26,428.6
At 30 June 2015
Creditors and accrued charges
24,556.6
24,556.6
22,333.4
2,202.2
21.0
Short-term borrowings
6,261.2
6,404.2
6,404.2
–
–
Long-term borrowings
110,895.3
120,323.2
30,939.6
72,963.3
16,420.3
Derivative financial liabilities:
Total
contractual
undiscounted
cash flow
Within
1 year or on
demand
Over 1 year
but within
5 years
After
5 years
HK$m
HK$m
HK$m
HK$m
At 30 June 2016
Derivative financial instruments (net settled)
443.8
203.7
240.1
–
At 30 June 2015
Derivative financial instruments (net settled)
391.4
125.5
263.8
2.1
There are no gross settled derivative financial liabilities as at 30 June 2016.
