Notes to the Financial Statements - SingTel
Notes to the Financial Statements - SingTel
Notes to the Financial Statements - SingTel
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Notes</strong> <strong>to</strong> <strong>the</strong> <strong>Financial</strong> <strong>Statements</strong>For <strong>the</strong> financial year ended 31 March 201125.1 Fair Values (Cont’d)As at 31 March 2011, <strong>the</strong> details of <strong>the</strong> outstanding derivative financial instruments were as follows -GroupCompany2011 2010 2011 2010Interest rate swapsNotional principal (S$ million equivalent) 7,104.4 5,737.5 5,802.0 5,382.1Fixed interest rates 1.8% <strong>to</strong> 6.2% 1.8% <strong>to</strong> 7.7% 1.8% <strong>to</strong> 4.5% 1.8% <strong>to</strong> 3.9%Floating interest rates 0.1% <strong>to</strong> 4.9% 0.4% <strong>to</strong> 5.7% 0.1% <strong>to</strong> 2.6% 0.4% <strong>to</strong> 2.3%Cross currency swapsNotional principal (S$ million equivalent) 7,102.8 5,193.5 4,918.0 3,649.7Fixed interest rates 3.5% <strong>to</strong> 7.5% 3.9% <strong>to</strong> 8.0% 3.9% <strong>to</strong> 5.2% 3.9% <strong>to</strong> 5.2%Floating interest rates 0.7% <strong>to</strong> 6.7% 2.0% <strong>to</strong> 6.3% 0.7% <strong>to</strong> 2.5% 2.0% <strong>to</strong> 2.8%Forward foreign exchangeNotional principal (S$ million equivalent) 710.7 1,359.3 392.6 1,020.1The interest rate swaps entered in<strong>to</strong> by <strong>the</strong> Group are re-priced at intervals ranging from monthly <strong>to</strong> six-monthly periods. Theinterest rate swaps entered by <strong>the</strong> Company are re-priced every six months.25.2 Fair Value MeasurementsThe Group classifies fair value measurements using a fair value hierarchy which reflects <strong>the</strong> significance of <strong>the</strong> inputs used inmaking <strong>the</strong> measurements. The fair value hierarchy has <strong>the</strong> following levels -(a) quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1);(b)inputs o<strong>the</strong>r than quoted prices included within Level 1 which are observable for <strong>the</strong> asset or liability, ei<strong>the</strong>r directly (i.e.as prices) or indirectly (i.e. derived from prices) (Level 2); and(c) inputs for <strong>the</strong> asset or liability which are not based on observable market data (unobservable inputs) (Level 3).162 SINGAPORE TELECOMMUNICATIONS LIMITED AND SUBSIDIARY COMPANIES