Cordlife Group Limited
Annual Report 2016
115
Notes to
The Financial Statements
for the financial year ended 30 June 2016
38. Fair value of assets and liabilities (cont’d)
(e)
Fair value of financial instruments by classes that are not carried at fair value and whose carrying
amounts are not a reasonable approximation of fair value
Available-for-sale asset, which comprises unquoted equity, is stated at cost because the shares do not
have a quoted price in an active market and the fair value cannot be reliably measured.
(f)
Fair value of financial instruments by classes that are not carried at fair value and whose carrying
amounts are a reasonable approximation of fair value
Management has determined that the carrying amounts of cash and cash equivalents, fixed deposits,
trade and other receivables, current amounts owing by/(to) subsidiaries and trade and other payables,
based on their notional amounts, reasonably approximate their fair values because of their short term
nature.
The carrying amount of long term trade receivables approximates their fair values as these amounts
have been discounted to their present value using market determined risk adjusted discount rates for the
Group.
The carrying amounts of long term other receivables, excluding convertible bond receivable, bear
interest at fixed rates which approximate market rates. Accordingly, their notional amounts approximate
their fair values.
The carrying amount of interest-bearing borrowings (current and non-current) reasonably approximate
their fair values as they are floating rate instruments that are re-priced to market interest rates on or near
the end of the reporting period.
The carrying amount of note payables bear interest coupon at fixed rates which approximate market
rates. Accordingly, their notional amounts approximate their fair values.
39. Classification of financial instruments
The following table sets out the financial instruments as at the end of the reporting period:
2016
2015
$’000
$’000
Group
Financial assets
Loans and receivables:
Trade receivables
81,520
69,862
Other receivables
6,331
102,723
Fixed deposits
53,723
12,576
Cash and cash equivalents
69,701
15,738
211,275
200,899
Fair value through profit or loss:
Short term investments
14,970
1,234
Financial asset designated at fair value through profit or loss
–
60,858
Derivative asset
–
37,971
14,970
100,063
