NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 7. FINANCIAL DERIVATIVES Group and Trust 2023 2022 $’000 $’000 Non-current assets Forwards 19 – Interest rate swaps 15,554 41,559 15,573 41,559 Current assets Forwards 551 1,670 Interest rate swaps 4,103 1,135 4,654 2,805 Non-current liabilities Cross currency interest rate swap (1,362) – Interest rate swaps (3,987) (825) (5,349) (825) The following are the contractual maturities of financial derivative assets and liabilities, including estimated interest payments: Carrying amount Contractual cash flow Within 1 year Within 2 to 5 years $’000 $’000 $’000 $’000 Group and Trust Financial derivative assets 2023 Forwards 570 – Outflow (30,230) (25,249) (4,981) – Inflow 30,800 25,800 5,000 Interest rate swaps 19,657 23,833 16,039 7,794 20,227 24,403 16,590 7,813 2022 Forwards 1,670 – Outflow (29,315) (29,315) – – Inflow 31,000 31,000 – Interest rate swaps 42,694 48,083 21,991 26,092 44,364 49,768 23,676 26,092 Financial derivative liabilities 2023 Cross currency interest rate swap (1,362) – Outflow (52,266) – (52,266) – Inflow 50,794 349 50,445 Interest rate swaps (3,987) (4,150) 435 (4,585) (5,349) (5,622) 784 (6,406) 2022 Interest rate swaps (825) (1,063) 200 (1,263) As at reporting date, it is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. The table also indicates the periods in which the cash flows associated with derivatives that are expected to occur and impact the statement of total return and Unitholders’ funds. 188 CAPITALAND CHINA TRUST
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