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
32 Classification and fair value of financial instruments (continued)
Interest rates used in determining fair values
The interest rates used to discount the estimated cash flows were as follows:
Group and Trust
2015
2014
%
%
Finance lease receivables
2.47
2.65
Trade and other payables
1.21
–
Security deposits
1.67
1.67
Medium term notes
1.00 – 3.29 1.00 – 3.52
Level 3 fair values
The following table shows reconciliation from the beginning balance to the ending balance for fair value measurement in
Level 3 of the fair value hierarchy:
Investment
in debt
securities
$’000
Group and Trust
2015
At 1 April 2014
194,574
Change in fair value (unrealised) recognised in Statement of Total Return
(16,574)
Redemption
(178,000)
At 31 March 2015
–
2014
At 1 April 2013
145,535
Additions
47,750
Change in fair value (unrealised) recognised in Statement of Total Return
1,289
At 31 March 2014
194,574
Type
Key unobservable input
Inter–relationship between key unobservable
inputs and fair value measurements
Group and Trust
2014
Investment in debt securities
Discount rate of 17.1%
The lower the discount rate, the estimated fair
value will increase.
Sensitivity analysis
For the fair value of investment in debt securities, reasonably possible changes at the reporting date to the key unobservable
inputs, holding other inputs constant, would have the following effects.
Group and Trust
Total return
Increase Decrease
$’000
$’000
2014
Discount rate (1% movement)
(400)
404
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
