AnnuAl REPORT 2011-2012 - Sbs

WeIghteD
AveRAge
eFFeCtIve
RAte
FIxeD InteReSt RAte MAtuRIng In
18(g) liquidity risk (cont.)
nOn-InteReSt
beARIng tOtAl
1 yeAR OR
leSS 1 tO 5 yeARS > 5 yeARS
FlOAtIng
InteReSt
RAte
2011
%
2012
%
2011
$’000
2012
$’000
2011
$’000
2012
$’000
2011
$’000
2012
$’000
2011
$’000
2012
$’000
2011
$’000
2012
$’000
2011
$’000
2012
$’000
FINANCIAL INstRUMeNt Notes
Financial Assets
Cash and cash equivalents 7(a) 18,722 18,140 – – – – – – – – 18,722 18,140 4.5% 4.2%
Receivables for goods
and services 7(b) – – – – – – – – 16,898 15,668 16,898 15,668 n/a n/a
Term deposits (investments) 7(c) – – 20,524 30,158 1,480 4,971 – – – – 22,004 35,129 5.2% 5.8%
total Financial Assets 18,722 18,140 20,524 30,158 1,480 4,971 – – 16,898 15,668 57,624 68,937
total Assets 250,606 252,978
Financial Liabilities
Loans from Government 10(a), (i) – – 3,021 6,126 3,000 6,000 – – – – 6,021 12,126 4.9% 4.9%
Suppliers (trade creditors) 9(a) – – – – – – – – 16,814 20,838 16,814 20,838 n/a n/a
Other payables (salaries
and super) 9(b) – – 2,760 2,072 – – – – – – 2,760 2,072 n/a n/a
total Financial Liabilities – – 5,781 8,198 3,000 6,000 – – 16,814 20,838 25,595 35,036
total Liabilities 66,828 79,074
(i) SBS entered into an interest rate hedge on 4 June 2002 to minimise the risk of interest rate movements on a loan from Government which was to be provided after
balance date (2 July 2002) – at the prevailing 10 year Government bond rate (6.02%). The Commonwealth loan of $24.000m was to repay the balance owing on a
loan raised in 1992 for its Artarmon premises. The specific hedge entered into by the Corporation (on 4 June 2002) effectively locked the interest rate on the loan at
6.23%. This loan was fully repaid by 30 June 2012.
In 2009 the Corporation received a loan of $15.000m to meet prepayments of licences (as required by the contracts) for the broadcast of some major sports events
and to upgrade its premises at Artarmon. The interest rate on this 5-year loan is fixed at 4.29%.
ANNUAL REPORT 2011 – 2012
121