Annual Report 2012 - singapore land limited

Singapore Land Limited - Annual Report 2012
81
NOTES TO THE FINANCIAL STATEMENTS
For the fi nancial year ended 31 December 2012
22. BORROWINGS (continued)
(c)
Carrying amounts and fair values
The carrying amounts of non-current borrowings approximate their fair values. The fair values are based on
discounted cash fl ows using a discount rate of 1.1% to 6.7% (2011: 1.0% to 1.6%) based upon the prevailing
market rates.
The exposure of the borrowings of the Group and of the Company to interest rate changes and the contractual
repricing dates at the statement of fi nancial position dates are as follows:
The Group
The Company
2012 2011 2012 2011
$’000 $’000 $’000 $’000
6 months or less 402,021 236,700 135,400 180,000
6 – 12 months - 30,000 - -
402,021 266,700 135,400 180,000
23. DEFERRED INCOME TAXES
The Group
2012 2011 2010
$’000 $’000 $’000
(restated) (restated)
Deferred income tax liabilities:
- to be settled within 1 year - 11,504 -
- to be settled after 1 year 46,588 51,550 55,108
46,588 63,054 55,108
The movement in the deferred income tax account is as follows:
The Group
2012 2011 2010
$’000 $’000 $’000
(restated) (restated)
Beginning of fi nancial year
- as previously reported 497,489 468,060 371,268
- effect of adopting FRS 12 (434,435) (412,952) (323,813)
Beginning of fi nancial year, as restated 63,054 55,108 47,455
(Credited)/Charged to income statement (note 8(a)) (12,799) 7,473 2,967
(Over)/Underprovision in prior fi nancial years (note 8(a)) (3,667) 473 4,686
End of fi nancial year 46,588 63,054 55,108