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32.
FINANCIAL INSTRUMENTS
(continued)
32.5
Fair values
The carrying amounts of all financial assets and liabilities approximate their fair values, with the exception of borrowings which have been
accounted for at amortised cost. The fair value of borrowings, together with the carrying amounts shown in the statement of financial
position, classified by class (being geographical location), are as follows:
2016
2015
Carrying
amount
R’000
Fair
value
R’000
Carrying
amount
R’000
Fair
value
R’000
Borrowings (refer to note 24)
Southern Africa and other Emerging Markets
2 136 266
2 136 156
972 461
972 155
Loans secured by lien over certain property, plant and equipment in
terms of financial leases and suspensive sale agreements
5 349
5 349
–
–
Unsecured loans
2 130 917
2 130 807
972 461
972 155
United Kingdom and Europe
3 914 356
3 885 383
4 292 227
4 292 227
Loans secured by mortgage bonds over fixed property
78 436
78 436
21 372
21 372
Loans secured by lien over certain property, plant and equipment
in terms of financial leases and suspensive sale agreements
279 016
279 016
158 622
158 622
Unsecured loans
3 556 904
3 527 931
2 990 034
2 990 034
Other borrowings
–
–
1 122 195
1 122 195
Bank overdrafts
–
–
4
4
Australasia
Unsecured loans
1 137 532
1 137 532
1 090 861
1 090 861
7 188 154
7 159 071
6 355 549
6 355 243
Unrecognised gain
29 083
306
The methods used to estimate the fair values of financial instruments are discussed in note 36.
The interest rates used to discount cash flows, in order to determine fair values, are based on market-related rates at June 30 2016 plus an
adequate constant credit spread, and range from 0,00% to 18,24% (2015: 0,25% to 12,5%).
Bidcorp Limited Annual integrated report 2016 |
Page 113
Financial overview