NOTES TO THE
FINANCIAL STATEMENTS
Year ended 31 December 2014
10 LOANS AND BORROWINGS (CONT’D)
(2)
Short Term Facilities
The Trust has entered into three unsecured and uncommitted short term multi-currency facilities (the “Short
Term Facilities”) of up to $50 million each for general working capital purposes. Interest on the Short Term
Facilities is based on the bank's cost of fund.
As at 31 December 2014, a total of $80.9 million was drawn down via the Short Term Facilities with the
following details:
(i)
The drawdown of $19.2 million is utilised for working capital for 1 month; and
(ii)
The drawdown of JPY5,585.5 million (approximately $61.7 million) is used as a bridging loan to
partially fund the acquisition of two nursing home properties in Japan completed on 12 December
2014 and 6 January 2015. The drawdown is for about 3 months, which will be fully repaid via the
5-year TLF and some internal funds by end of first quarter of 2015.
11 DEFERRED TAX LIABILITIES
At
1 January
Recognised in
Statement of
Total Return
Translation
differences
At
31 December
$’000
$’000
$’000
$’000
Group
2014
Deferred tax liabilities
Investment properties
8,719
3,435
(381)
11,773
2013
Deferred tax liabilities
Investment properties
7,232
2,727
(1,240)
8,719
12 UNITHOLDERS’ FUNDS
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Unitholders’ contribution
709,465
718,419
709,465
718,419
Revenue reserve
321,515
260,667
379,812
314,066
Hedging reserve
(2,685)
(1,725)
(2,685)
(1,725)
Foreign currency translation reserve
7,054
8,437
–
–
1,035,349
985,798
1,086,592
1,030,760
126
PA R K WAY L I F E R E I T
