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CapitaLand Malaysia Mall Trust
Annual Report 2015
Notes to the Financial Statements
23. Financial instruments
(continued)
23.7 Fair value information
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables
approximate their fair values due to the relatively short term nature of these financial instruments.
The fair value of the floating rate borrowings approximates its carrying amount as it reprices to market interest
rates for liabilities with similar risk profiles.
The fair value of the fixed rate borrowings at initial recognition approximates its carrying amount as its effective
interest rate is considered to be the market rate.
The fair values of the non-derivative financial liabilities, together with the carrying amounts shown in the
statements of financial position, are as follows:
Carrying
amount
2015
RM’000
Fair
value
2015
RM’000
Carrying
amount
2014
RM’000
Fair
value
2014
RM’000
Group
Tenants’ deposits
96,932
93,505
84,513
81,099
Fixed rate secured term loans
650,000 642,251 363,825 363,299
Unrated and secured MTN
300,000 298,582 300,000 297,985
Trust
Tenants’ deposits
96,932
93,505
84,513
81,099
Fixed rate secured term loans
650,000 642,251 363,825 363,299
Amount due to subsidiary
300,000 298,582 300,000 297,985
The fair values of the non-derivative financial liabilities are categorised as Level 2.
The above fair values, which are determined for disclosure purposes, are calculated based on the
present value of future cash flows discounted at the market rate of interest at the end of the financial year.
Interest rates used to determine fair values are as follows:
2015
2014
Tenants’ deposits
3.3% 3.3%
Fixed rate secured term loans
5.0% 4.8%
Unrated and secured MTN
5.0% 4.8%
Amount due to subsidiary
5.0% 4.8%
