99
Annual Report 2015
TEHO INTERNATIONAL INC LTD.
28 FINANCIAL INSTRUMENTS: INFORMATION ON FINANCIAL RISKS (CONT’D)
Other
financial
Designated liabilities
Loans and
at
at amortised
receivables fair value
cost
Total
Level 2
$
$
$
$
$
Company
30 June 2014
Financial assets not
measured at fair value
Cash and cash
equivalents
168,285
–
–
168,285
Trade and other
receivables*
6,417,454
–
– 6,417,454
6,585,739
–
– 6,585,739
Financial liabilities
measured at fair value
Contingent
consideration
payable
–
723,000
–
723,000
723,000
Financial liabilities
not measured
at fair value
Trade and other
payables
#
–
– 13,798,814 13,798,814
* Excludes prepayments
#
Excludes derivatives and contingent consideration payable (shown separately) and advance
receipts from customers.
28 FINANCIAL INSTRUMENTS: INFORMATION ON FINANCIAL RISKS (CONT’D)
A description of the valuation techniques and the significant other observable inputs used
in the fair value measurement are as follows:
Type
Valuation technique
Derivative financial liabilities
Market comparison technique:
The fair values are
based on broker quotes. Similar contracts are traded
in an active market and the quotes reflect the actual
transactions in similar instruments.
Contingent consideration
payable
Income approach based on the expected payment
amount and their associated probabilities (i.e.
probability-weighted). When appropriate, it is
discounted to present value.
Loan due from/(to) a subsidiary Discounted cash flows.
29 COMMITMENTS
The Group have the following commitment as at the reporting date:
Group
2015
2014
$
$
Development expenditure contracted for development
properties but not provided for in the financial statements 8,880,517 6,675,855
Expenditure contracted for property, plant and equipment
but not provided for in the financial statements
1,339,005
–
10,219,522 6,675,855
In addition, as part of the provisions of an agreement entered into between a subsidiary
and a non-controlling interest, the Group will bear all costs relating to or in any way
connected with the design, planning, project manangement, supervision, conduct, launch,
marketing and promotion of “The Bay” project and the operation of the subsidiary, other
than construction costs, sales agency commission and the relevant developer charges.
NOTES TO THE
FINANCIAL STATEMENTS
Year ended 30 June 2015
