Page 197 - Hang Lung Group 2012 Annual Report

30 RELATED PARTY TRANSACTIONS
Except for the transactions and balances already disclosed elsewhere in
the financial statements, the Group entered into the following related party
transactions during the year/period in its ordinary course of business:
(a) The Group has a 20% interest in a jointly controlled entity which
participated in the development of Package One of the MTRC
Tung Chung Station Development Project. At December 31,
2012, the Group advanced to this jointly controlled entity a total
of $525 million (2011: $631 million). All advances are unsecured,
non-interest bearing and have no fixed terms of repayment.
(b) Emoluments to directors and key management has been
disclosed in notes 6 and 29(b).
31 FINANCIAL RISK MANAGEMENT OBJECTIVES
AND POLICIES
Exposure to interest rate, liquidity, credit and currency risks arises in
the normal course of the Group’s business. The Group has policies and
practices approved by management as described below in managing
these risks.
(a) Interest rate risk
The Group’s interest rate risk arises primarily from deposits with
banks and borrowings issued at floating rates. Interest rate trend
and movements are closely monitored and, if appropriate, existing
borrowings will be replaced with new bank facilities when favorable
pricing opportunities arise. In addition, the Group established the
Programme which provides fixed interest rate facilities to the Group
and assists the Group to manage its interest rate risk.
The interest rates of interest-bearing financial assets and liabilities are
disclosed in notes 14, 15, 19 and 22.
30 關連人士交易
除該等已於財務報表其他部份披露之交易
及結餘外，年／期內，本集團於其日常業務
過程中訂立以下關連人士交易：
(a) 本集團一間合營公司參與香港鐵路有
限公司東涌站第一期物業發展計劃，
本集團持有該合營公司百分之二十權
益。於二零一二年十二月三十一日，
本集團已向該合營公司合共墊款五
億二千五百萬元（二零一一年：六億
三千一百萬元）。所有墊款均為無抵
押、免息及無固定償還期。
(b) 董事及主要管理層酬金已於附註 6 及
29(b) 披露。
31 財務風險管理目標及政策
利率、流動資金、信貸及貨幣風險來自本
集團之正常業務。本集團有以下經管理層
批准之政策及方法以管理該等風險。
(a) 利率風險
本集團之利率風險來自銀行存款及浮息借
貸。本集團密切監察利率變動，以及於有
利定價機會來臨時（如適用）以新銀行融資
替換原有借貸。此外，本集團設立一個提
供固定利率設施之計劃以管理利率風險。
計息財務資產及負債之利率於附註 14 、
15、19及 22予以披露。
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