117
ANNUAL REPORT 2014/2015
27 AMOUNTS DUE TO SUBSIDIARIES
THE COMPANY
2015
$’000
2014
$’000
Current portion
18,008
6,163
Non-current portion
194,989
171,547
212,997
177,710
Non-current portion that is interest-free
Beginning of financial year
218,902
196,637
Additional advances during the financial year
23,060
22,265
241,962
218,902
Less: unamortised interest expense
(46,973)
(47,355)
End of financial year
194,989
171,547
Unamortised interest expense
Beginning of financial year
47,355
46,928
Fair value on inception of advances during the financial year
8,903
8,596
Amortised interest expense during the financial year
(9,285)
(8,169)
End of financial year
46,973
47,355
Amount due to subsidiaries are unsecured, non-trade and repayable on demand.
The carrying amount of the non-current portion of the amounts due to subsidiaries approximates its fair value
as the effective interest rate approximates the prevailing market interest rate for similar debt.
NOTES TO THE FINANCIAL STATEMENTS
