New World Development Company Limited
164
Financial Section
25 Derivative Financial Instruments
2016
2015
HK$m
HK$m
Non-current assets
Foreign exchange and interest rate swaps
41.9
–
Others
39.5
39.5
81.4
39.5
Current assets
Foreign exchange and interest rate swaps
–
11.1
Others
19.3
19.3
19.3
30.4
100.7
69.9
Current liabilities
Foreign exchange and interest rate swaps
(88.4)
–
Others (note)
(97.6)
–
(186.0)
–
Non-current liabilities
Foreign exchange and interest rate swaps
(794.0)
(847.4)
(980.0)
(847.4)
The total notional principal amounts of the outstanding derivative financial instruments as at 30 June 2016 was
HK$13,550.4 million (2015: HK$10,617.4 million).
Note:
The amounts represented the Evergrande’s call option embedded in the perpetual securities (note 23(a)).
26 Properties for Development
At 30 June 2016, the aggregate carrying value of properties for development pledged as securities for the Group’s
borrowings amounted to HK$375.6 million (2015: HK$1,051.7 million).
27 Deferred Taxation
Deferred income tax assets and liabilities are offset when taxes relate to the same taxation authority and where offsetting is
legally enforceable. The following amounts, determined after appropriate offsetting, are shown separately on the
consolidated statement of financial position.
2016
2015
HK$m
HK$m
Deferred tax assets
684.9
673.3
Deferred tax liabilities
(8,453.2)
(9,288.0)
(7,768.3)
(8,614.7)
At beginning of the year
(8,614.7)
(8,247.2)
Translation differences
377.8
(29.2)
Acquisition of subsidiaries
–
(7.0)
Disposal of subsidiaries
363.1
30.3
Written back upon disposal of intangible concession rights
33.8
–
Transfer to current tax payable
16.7
4.2
Transfer to non-current assets classified as assets held for sale (note 35)
56.8
(34.0)
Charged to consolidated income statement (note 11)
(103.3)
(266.3)
Credited/(charged) to reserves
101.5
(65.5)
At end of the year
(7,768.3)
(8,614.7)
