HAW PAR CORPORATION LIMITED
88
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the financial year ended 31 December 2014
19. BORROWINGS
The Group
and the Company
2014
$’000
2013
$’000
Current
Bank borrowings
56,332
23,784
The bank borrowings of the Group and the Company are exposed to interest rate changes and contractual repricing
in less than 6 months from the balance sheet date for both financial years.
Bank borrowings and credit facilities of the Group are secured over certain available-for-sale financial assets (Note
13) and certain investment properties (Note 10).
The carrying value of bank borrowings approximates its fair value.
20. DEFERRED INCOME TAXATION
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current income
tax assets against current income tax liabilities and when the deferred income taxes relate to the same fiscal authority.
The amounts, determined after appropriate offsetting, are shown on the statement of financial position as follows:
The Group
The Company
2014
$’000
2013
$’000
2014
$’000
2013
$’000
Deferred income tax assets
- to be recovered within 12 months
(263)
(489)
–
–
(263)
(489)
–
–
Deferred income tax liabilities
- to be settled within 12 months
387
346
–
–
- to be settled after more than 12 months
63,457
53,228
–
–
63,844
53,574
–
–
63,581
53,085
–
–
