NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 42 FINANCIAL INSTRUMENTS (CONT’D) (ii) Liquidity risk (cont’d) Carrying amount Contractual cash flows Within 1 year After 1 year but within 5 years After 5 years $’000 $’000 $’000 $’000 $’000 Company 31 December 2021 Non-derivative financial liabilities Interest-bearing borrowings 7,138,339 (7,409,749) (3,284,188) (4,125,561) – Lease liabilities 15,922 (16,475) (6,666) (9,597) (212) Trade and other payables^ 2,607,125 (2,607,125) (2,607,125) – – Other liabilities^ 8,041 (8,041) – (8,041) – 9,769,427 (10,041,390) (5,897,979) (4,143,199) (212) Derivative financial instruments Derivative liabilities Cross-currency swaps (gross-settled): 14,928 – Outflow (344,991) (329,578) (15,413) – – Inflow 331,691 316,267 15,424 – 14,928 (13,300) (13,311) 11 – Derivative assets Cross-currency swaps (gross-settled): (4,026) – Outflow (41,543) (41,543) – – – Inflow 45,489 45,489 – – Forward exchange contracts (gross-settled): (17,485) – Outflow (1,294,556) (1,294,556) – – – Inflow 1,308,617 1,308,617 – – (21,511) 18,007 18,007 – – (6,583) 4,707 4,696 11 – 9,762,844 (10,036,683) (5,893,283) (4,143,188) (212) ^ Excluding deferred income The maturity analyses show the contractual undiscounted cash flows of the Group and the Company’s financial liabilities on the basis of their earliest possible contractual maturity. The cash inflows/(outflows) disclosed represent the contractual undiscounted cash flows relating to derivative financial instruments held for risk management purposes and which are usually not closed out prior to contractual maturity. The disclosure shows net cash flow amounts for derivatives that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have simultaneous gross cash settlement e.g. forward exchange contracts. Net-settled derivative financial assets are included in the maturity analyses as they are held to hedge the cash flow variability of the Group’s floating rate loans. The interest payments on variable interest rate loans and bonds and notes in the table above reflect market forward interest rates at the period end and these amounts may change as market interest rates changes. It is not expected that the cash flows in the maturity analysis could occur significantly earlier, or at significantly different amounts. 42 FINANCIAL INSTRUMENTS (CONT’D) (ii) Liquidity risk (cont’d) Carrying amount Contractual cash flows Within 1 year After 1 year but within 5 years After 5 years $’000 $’000 $’000 $’000 $’000 Company 31 December 2022 Non-derivative financial liabilities Interest-bearing borrowings 7,452,244 (8,059,612) (1,554,860) (6,504,752) – Lease liabilities 32,522 (34,731) (6,660) (28,071) – Trade and other payables^ 2,241,789 (2,262,592) (2,262,592) – – Other liabilities^ 759,708 (764,965) – (764,965) – 10,486,263 (11,121,900) (3,824,112) (7,297,788) – Derivative financial instruments Derivative liabilities Cross-currency swaps (gross-settled): 780 – Outflow (16,235) (16,235) – – – Inflow 15,423 15,423 – – Forward exchange contracts (gross-settled): 780 – Outflow (48,463) (48,463) – – – Inflow 47,512 47,512 – – Interest rate swaps (net-settled) 645 (853) 129 (982) – 2,205 (2,616) (1,634) (982) – Derivative assets Cross-currency swaps (gross-settled): (43,696) – Outflow (501,351) (215,789) (285,562) – – Inflow 547,091 235,485 311,606 – Forward exchange contracts (gross-settled): (49,636) – Outflow (914,487) (914,487) – – – Inflow 960,816 960,816 – – Interest rate swaps (net-settled) (18,917) 20,443 8,298 12,145 – (112,249) 112,512 74,323 38,189 – (110,044) 109,896 72,689 37,207 – 10,376,219 (11,012,004) (3,751,423) (7,260,581) – ^ Excluding deferred income CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 FINANCIALS 226 227
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