107
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
25. OTHER LIABILITIES, CURRENT
Group
2014
2013
$’000
$’000
Security deposits from tenants
28,618
24,664
26. DERIVATIVES FINANCIAL INSTRUMENTS
The table below summarises the fair value of derivatives engaged into at the end of year. All derivatives are not
designated as hedging instruments.
Group and Trust
2014
2013
$’000
$’000
Assets – Derivatives with positive fair values:
Currency option contracts (Note 26B)
116
643
Non-current portion
–
128
Current portion
116
515
116
643
Liabilities – Derivatives with negative fair values:
Interest rate swap (Note 26A)
–
(312)
Currency option contracts (Note 26B)
(146)
(582)
(146)
(894)
Non-current portion (Note 22)
–
(344)
Current portion (Note 22)
(146)
(550)
(146)
(894)
The movements during the year were as follows:
Balance at beginning of year
(251)
(9,743)
Gains recognised in profit or loss
221
9,492
Total net balance at end of the year
(30)
(251)
The maximum exposure to credit risk at the reporting date is the fair value of derivative assets.
26A. Interest rate swap
The notional amount of interest rate swaps for 2013 was $75,000,000. The Group paid a fixed rate interest at
1.05% per annum and received a variable rate equal to the swap offer rate (“SOR”) on the notional contract amount
(Level 2). The interest rate swap expired on 22 June 2014.
Notes to the Financial Statements
(Cont’d)
31 December 2014
