New World Development Company Limited
166
Financial Section
28 Other Non-Current Assets
2016
2015
HK$m
HK$m
Retirement benefit assets
–
0.1
Long-term receivables (note)
4,213.8
239.0
Long-term prepayments and deposits
1,396.3
1,531.3
5,610.1
1,770.4
Note:
2016
2015
HK$m
HK$m
Other loans
316.1
243.2
Amounts receivable within one year included in debtors and prepayments
(5.7)
(4.2)
Other receivables (note (a))
3,903.4
–
4,213.8
239.0
Note:
(a)
The balance mainly represents the non-current portion of consideration receivable from Evergrande of HK$3,853.4 million in relation to
the disposal of subsidiaries, which will be settled by instalments after 1 year and within 2 years from the balance sheet date. The
amount is stated at its fair value using a discount rate of 12%. The consideration to be received is subject to adjustment based on the
actual amount required by the Group to settle the obligations stipulated in the sales and purchase agreements. The total contracted
consideration of RMB20,800.0 million (approximately to HK$25,106.1 million) includes the imputed interest of HK$1,673.9 million, of
which HK$602.2 million was recognised as financing income in the current year and the remaining of HK$1,071.7 million is expected to
be recognised as financing income in the next 2 financial years.
29 Properties under Development
At 30 June 2016, the aggregate carrying value of properties under development pledged as securities for the Group’s
borrowings amounted to HK$13,459.0 million (2015: HK$10,382.7 million).
2016
2015
HK$m
HK$m
Properties under development
Expected to be completed and available for sale after more than 12 months
19,166.7
23,346.0
Expected to be completed and available for sale within 12 months
31,588.3
28,232.4
50,755.0
51,578.4
