Annual Report 2016
163
Financial Section
23 Available-For-Sale Financial Assets
2016
2015
HK$m
HK$m
Non-current
Equity securities
Unlisted shares and investments, at fair value (notes (b) and (c))
2,607.2
3,793.4
Unlisted investment — perpetual securities, at fair value (note (a))
5,309.4
–
Listed shares, at market value
Hong Kong
1,807.2
2,466.4
Overseas
111.1
405.2
Debt securities
Listed debentures in Hong Kong, at market value
244.3
244.2
10,079.2
6,909.2
Current
Equity securities
Unlisted shares and investments, at fair value (notes (b) and (c))
30.0
–
Unlisted investment — perpetual securities, at fair value (note (a))
1,769.8
–
1,799.8
–
11,879.0
6,909.2
Notes:
(a)
During the year, a wholly owned subsidiary of the Company and an indirectly wholly owned subsidiary of NWCL, entered into the
subscription agreement with Evergrande to subscribe for the 9% perpetual securities issued by Evergrande in cash for a consideration
of USD900.0 million (equivalent to HK$6,993.0 million). The securities are perpetual securities in respect of which there is no fixed
maturity or redemption date and Evergrande will only have the right to redeem or purchase them in accordance with the terms of the
securities.
(b)
The fair value of unlisted securities are calculated based on cash flows discounted using a rate based on the market interest rates and
the risk premium specific to the unlisted securities.
(c)
The available-for-sale financial assets are denominated in the following currencies:
2016
2015
HK$m
HK$m
Hong Kong dollar
3,581.8
4,457.0
Renminbi
162.6
1,217.6
United States dollar
7,974.1
1,180.2
Korean won
113.6
6.2
Others
46.9
48.2
11,879.0
6,909.2
24 Held-To-Maturity Investments
2016
2015
HK$m
HK$m
Debt securities
Unlisted debentures
42.9
41.4
