Download Full Report - Ascendas REIT

Notes to the financial statements
12. Deferred payments
Deferred payments are due to vendors in respect of the purchase of the following properties:
2010 2009
$’000 $’000
SB Building payable in November 2009 - 3,800
Wisma Gulab payable between December 2009 and December 2011 7,200 12,200
Freight Links (Changi) Building payable in December 2010 3,200 3,200
Freight Links (Toh Guan) Building payable in December 2010 3,640 3,640
Xilin Districentre Building C payable between May 2009 and May 2010 500 1,000
13 International Business Park payable in March 2010 - 386
Thales Building (Phase II) payable between April 2009 and June 2009 - 20
Deferred payments 14,540 24,246
Less: Unamortised discount (620) (1,268)
Deferred payments at amortised cost 13,920 22,978
Current deferred payments 7,136 9,706
Non-current deferred payments 6,784 13,272
Total deferred payments 13,920 22,978
13. Derivative liabilities
2010 2009
$’000 $’000
Current derivative liabilities 3,570 635
Non-current derivative liabilities 50,451 50,061
Total derivative liabilities 54,021 50,696
Derivative liabilities as a percentage of net assets 1.83% 1.88%
A-REIT uses interest rate swaps to manage its exposure to interest rate movements on its floating rate interestbearing
term loans and short term borrowings by swapping the interest expense on a proportion of these term
loans and short term borrowings from floating rates to fixed rates.
Interest rate swaps with a total notional amount of $1,390.7 million (2009: $1,430.7 million) have been entered
into to provide fixed rate funding for terms of 1 to 7 years (2009: 1 to 7 years ) at a weighted average interest
rate of 3.08% (2009: 3.06%) per annum.
138 Ascendas real estate investment trust