NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
123
Annual Report 2014
27.
Borrowings
The Group
2014
2013
$’000
$’000
Current
Bank borrowings (unsecured)
1,215,510
1,133,610
Bank borrowings (secured)
1,034,950
666,244
Loan from a fellow subsidiary (unsecured)
–
2,086
Bills payable
179,844
124,125
2,430,304
1,926,065
Non-current
Bank borrowings (unsecured)
1,797,445
1,402,866
Bank borrowings (secured)
744,945
453,597
2,542,390
1,856,463
Total borrowings
4,972,694
3,782,528
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
2014
2013
$’000
$’000
Less than 1 year
2,430,304
1,926,065
1 – 5 years
2,542,390
1,849,162
Over 5 years
–
7,301
4,972,694
3,782,528
(a)
Security granted
At the balance sheet date, total borrowings include secured liabilities of $1,779,895,000 (2013:
$1,119,841,000) for the Group. Bank borrowings of the Group are secured over certain trade
receivables (Note 13) and certain construction contracts due from customers (Note 13).
(b)
Loan from a fellow subsidiary
As at 31 December 2013, the loan from a fellow subsidiary of $2,086,000 is unsecured, interest-
bearing at 5.35% and is repayable on demand.
The loan from a fellow subsidiary has been fully repaid during the current financial year.
