Annual Report 2019

FAR EAST CONSORTIUM INTERNATIONAL LIMITED 234 For the year ended 31 March 2019 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 33. BANK AND OTHER BORROWINGS (continued) Currencies Interest rates 2019 2018 HK$’000 HK$’000 HK$ Hong Kong Interbank Offered Rates (“HIBOR”) plus 0.75% to 2.1% (2018: HIBOR plus 1.00% to 3.00%) 8,920,580 6,623,210 RMB 100% of 5 years or above People’s Bank of China Prescribed Interest Rate (“PBOC PIR”) (2018: 100% of 1 year PBOC PIR to 130% of 1 to 3 years PBOC PIR) 564,560 701,713 S$ Singapore Swap Offered Rate (“S$ SOR”) plus 0.68% to 1.1% (2018: S$ SOR plus 1.10% to 1.20%) 4,152,572 2,234,410 MYR Malaysia Base Lending Rates (“Malaysia BLR”) minus 1.50% to plus 1.50% (2018: Malaysia BLR minus 1.50% to plus 1.50%) 94,788 244,415 A$ Australia Bank Bill Swap Reference Rate (“Australia BBSW”) plus 1.40% to 1.55% (2018: Australia BBSW plus 1.40% to 2.50%) 3,155,739 1,368,193 GBP London Interbank Offered Rate (“LIBOR”) plus 2.00% to 2.75% (2018: LIBOR plus 2.00% to 2.80%) 888,033 799,457 EURO (“EUR”) Czech Republic Lombard Rate (Czech Republic LR) plus 1.95% to 3.1% 93,812 – 17,870,084 11,971,398 34. AMOUNTS DUE TO SHAREHOLDERS OF NON-WHOLLY OWNED SUBSIDIARIES The amounts due to shareholders of non-wholly owned subsidiaries under current liabilities are unsecured, interest-free and either repayable on demand or without fixed terms of repayment. The amount due to a shareholder of a non-wholly owned subsidiary under non-current liabilities represents amount due to a shareholder for financing the property development project in Singapore. The loan is unsecured, interest-free and due to a shareholder of FEC Skyline Pte. Ltd. (“FEC Skyline”), a 70% subsidiary of the Company. In accordance with the contractual terms of the shareholders’ agreements, the amount is repayable only when FEC Skyline has available cash, which represent cash proceeds receive from the business after payment of operating expenses as provided in the annual budget including but not limited to bank loans and/or other financial institutions which are due for repayment together with the accrued interest. The expected repayment date of the amount due to a shareholder of a non-wholly owned subsidiary is on August 2020 and the difference between the principal amount of the advance and its fair value at initial recognition amounting to HK$19,681,000 has been included in the non-controlling interest as deemed capital contribution arising from interest-free loan advanced by a non-controlling shareholder during the year ended 31 March 2017.