N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
Year ended 31 March 2015
8 Finance lease receivables
2015
2014
Carrying
amount
Face
value
Carrying
amount
Face
value
$’000
$’000
$’000
$’000
(Restated) (Restated)
Group and Trust
Finance lease receivables
– Current
1,002
9,572
1,031
9,625
– Non-current
92,842 250,408
93,844 259,980
93,844 259,980
94,875 269,605
Finance lease receivables are receivable from the lessees as follows:
Gross
receivable
Unearned
interest
income
Net
receivable
Gross
receivable
Unearned
interest
income
Net
receivable
2015
2015
2015
2014
2014
2014
$’000
$’000
$’000
$’000
$’000
$’000
(Restated) (Restated) (Restated)
Group and Trust
Within 1 year
9,572
8,570
1,002
9,625
8,594
1,031
After 1 year but within 5 years
42,259
33,203
9,056
40,874
33,730
7,144
After 5 years
208,149 124,363
83,786 219,106 132,406
86,700
259,980 166,136
93,844 269,605 174,730
94,875
For one of the lessees, the Group has a credit policy in place to monitor its credit rating on an ongoing basis. The lessee
would be required to provide a security deposit if the credit rating falls below the agreed terms. For the other lessee, the
Group had obtained sufficient security deposits to mitigate credit risk. The Manager believes that no impairment allowance
is necessary in respect of the finance lease receivables.
9 Interest in subsidiaries
Trust
2015
2014
$’000
$’000
Equity investments, at cost
43,607
43,607
Loans to subsidiaries
135,717 126,420
179,324 170,027
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
