Annual Report 2011 - Hongkong Land

19 Bank Balances
Bank balances of certain subsidiaries amounting to US$92.9 million (2010: US$80.6 million) are held under the Housing
Developers (Project Account) Rules in Singapore, withdrawals from which are subject to the provision of these Rules.
The weighted average interest rate on bank balances of US$911.0 million (2010: US$1,309.9 million) is 0.6% (2010: 0.3%)
per annum.
20 Creditors
2011 2010
US$m
US$m
Trade creditors 222.8 231.1
Tenants’ deposits 165.3 156.6
Other creditors 58.6 66.4
Derivative financial instruments 22.0 70.9
Financial liabilities 468.7 525.0
Rent received in advance 6.9 11.6
Proceeds from property for sale received in advance 315.1 279.9
790.7 816.5
Non-current 44.4 93.1
Current 746.3 723.4
790.7 816.5
By geographical area of operation
Greater China 375.2 427.1
Southeast Asia and others 415.5 389.4
790.7 816.5
The remaining contractual maturities of financial liabilities other than
derivative financial instruments are analysed as follows:
Within one year 307.2 314.8
Between one and two years 38.6 50.6
Between two and five years 80.2 72.7
Beyond five years 20.7 16.0
446.7 454.1
Derivative financial instruments are stated at fair value. Other creditors are stated at amortised cost. The fair value of these
creditors approximates their carrying amounts.
Annual Report 2011 51