EC World REIT - Annual Report 2016

114

EC World Real Estate Investment Trust ANNUAL REPORT 2016

NOTES TO THE

Financial Statements

For the Financial Year ended 31 December 2016

23. Financial risk management (continued)

(e) Financial instruments by category and fair value measurements (continued)

Carrying amount

Fair value

Fair

value

through

profit or

loss

Loans and

receivables

Other

financial

liabilities

within the

scope of

FRS 39 Total Level 1 Level 2 Level 3 Total

S$’000 S$’000 S$’000 S$’000 S$’000 S$’000 S$’000 S$’000

ECW

2016

Financial assets

Cash and cash

equivalents

–

11,113

– 11,113

– – – –

Trade and other

receivables*

–

1,061

–

1,061

– – – –

Derivative financial

instruments

417

–

– 417

Loans to subsidiaries

– 241,557

– –

417

253,731

– 254,148

Financial liabilities

Trade and other

payables^

–

3,578

– – – –

Borrowings

–

– 194,855 194,855

– – – –

Derivative financial

instruments

387

–

387

– 387

387

– 198,433 198,820

2015

Financial liabilities

Trade and other

payables^

–

167

– – – –

–

167

* Excludes prepayments

^ Excludes deferred income and rental received in advance

24. Immediate and ultimate holding corporations

For financial reporting purposes under FRS 110 Consolidated Financial Statements, the Group is regarded

as a subsidiary of Forchn International Pte. Ltd.. The immediate and ultimate holding companies are Forchn

International Pte. Ltd. and Forchn Holdings Group Co., Ltd. respectively.