Full Report - Fraser and Neave Limited
Full Report - Fraser and Neave Limited
Full Report - Fraser and Neave Limited
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NOTES TO THE FINANCIAL STATEMENTS<br />
for the year ended 30 September 2006<br />
37. FINANCIAL RISK MANAGEMENT (cont’d)<br />
Interest Rate Risk (cont’d)<br />
Year ended 30 September 2006<br />
THE COMPANY<br />
Variable rates Fixed rates<br />
Less than Less than Between 1 After<br />
1 year 1 year <strong>and</strong> 5 years 5 years<br />
($’000) ($’000) ($’000) ($’000)<br />
Assets<br />
Cash <strong>and</strong> bank deposits 15,277 – – –<br />
Liabilities<br />
Borrowings 394,923 – 299,554 349,614<br />
Year ended 30 September 2005<br />
Assets<br />
Cash <strong>and</strong> bank deposits 22,618 – – –<br />
Liabilities<br />
Borrowings 412,340 – 300,000 200,000<br />
Interest on financial instruments classified as floating rate is repriced at intervals of less than one year. Interest<br />
on financial instruments classified as fixed rate is fixed until the maturity of the instrument. The other financial<br />
instruments of the Group that are not included in the above tables are non-interest bearing <strong>and</strong> are therefore not<br />
subject to interest rate risk.<br />
The Company <strong>and</strong> the Group are in a net interest expense position for the years ended 30 September 2006<br />
<strong>and</strong> 2005.<br />
<strong>Fraser</strong> <strong>and</strong> <strong>Neave</strong>, <strong>Limited</strong> & Subsidiary Companies Annual <strong>Report</strong> 2006 163
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