Annual Report 2008-2009 - Emirates.com

14. Other investments (continued)
(b) Held-to-maturity financial assets
093
Deposits with financial institutions:
Current 200,000
Non-current
-
The maturity dates fall into the following periods:
Within one year
Between 1 and 2 years
15. Loans and other receivables
200,000
1,039,195 1,227,508
The amounts are receivable as follows:
Between 2 and 5 years
986,469 1,013,228
After 5 years 52,726
214,280
1,039,195
Loans and other receivables are denominated in the following currencies:
UAE Dirhams
5,350
US Dollars
994,111
Others 39,734
2009 2008
AED'000 AED'000
200,000
-
215,796
200,000
415,796
215,796
200,000
The held-to-maturity financial assets are denominated either in UAE Dirhams, the functional currency or in US Dollars to which the
UAE Dirham is pegged.
The effective interest rate earned was 3.43% (2008: 5.68%) per annum.
The carrying amounts of investments approximate their fair value. Fair value is determined by discounting projected cash flows
using the interest rate yield curve applicable to the different maturities and currencies.
The maximum exposure to credit risk at the reporting date is the carrying value of the held-to-maturity financial assets.
Related parties (Note 34) 878,039
Other receivables
161,156
2009 2008
AED'000 AED'000
1,025,301
202,207
1,227,508
6,490
1,221,018
-
The fair value of loans and receivables amounts to AED 1,043.2 million (2008: AED 1,227.5 million). Fair value is determined by
discounting projected cash flows using the interest rate yield curve for the remaining term to maturity and currencies based on
credit spread applicable at the balance sheet date.
The maximum exposure to credit risk at the reporting date is the carrying value of the loans and other receivables. At the balance
sheet date, loans and other receivables were neither past due nor impaired.