Page 123 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
121
Annual Report 2013
F i nanc i a l Statement s
27. Borrowings
The Group
2013 2012
$’000 $’000
Current
Bank borrowings (unsecured) 1,133,610 994,718
Bank borrowings (secured) 666,244 378,215
Loans from a fellow subsidiary (unsecured) 2,086 31,752
Bills payable 124,125 63,225
1,926,065 1,467,910
Non-current
Bank borrowings (unsecured) 1,402,866 1,103,254
Bank borrowings (secured) 453,597 453,327
Loans from a fellow subsidiary (unsecured) – 1,960
1,856,463 1,558,541
Total borrowings 3,782,528 3,026,451
The exposure of the borrowings of the Group to interest rate changes and the contractual repricing dates at the
balance sheet dates are as follows:
The Group
2013 2012
$’000 $’000
Less than 1 year 1,926,065 1,467,910
1 – 5 years 1,849,162 1,525,221
Over 5 years 7,301 33,320
3,782,528 3,026,451
(a) Security granted
At the balance sheet date, total borrowings include secured liabilities of $1,119,841,000 (2012:
$831,542,000) for the Group. Secured bank borrowings are secured by:
(i) certain trade receivables (Note 13)
(ii) certain construction contracts due from customers (Note 13)
(b) Loans from a fellow subsidiary
The loans from a fellow subsidiary are unsecured, interest-bearing at 5.35% (2012: 4.96%) and are repayable
on demand.