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| |
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|
Group |
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|
Company |
|
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| |
|
|
|
2013
Rm |
|
2012
Rm |
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|
2013
Rm |
|
2012
Rm |
|
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|
| 22. |
OTHER FINANCIAL ASSETS AND LIABILITIES |
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|
|
|
|
|
|
|
|
|
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|
|
|
|
|
| |
Other financial assets consist of: |
|
|
83 |
|
48 |
|
|
|
|
|
|
83 |
|
48 |
|
|
|
| |
Total other financial assets |
|
|
2,217 |
|
2,243 |
|
|
|
|
|
|
2,207 |
|
2,233 |
|
|
|
| |
– Repurchase agreements |
|
|
1,980 |
|
2,009 |
|
|
|
|
|
|
1,970 |
|
1,999 |
|
|
|
| |
– Derivative instrument |
|
|
237 |
|
234 |
|
|
|
|
|
|
237 |
|
234 |
|
|
|
| |
Forward exchange contract |
|
|
132 |
|
193 |
|
|
|
|
|
|
132 |
|
193 |
|
|
|
| |
Cross currency swaps |
|
|
105 |
|
41 |
|
|
|
|
|
|
105 |
|
41 |
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Less: Current portion of other financial assets |
|
|
2,134 |
|
2,195 |
|
|
|
|
|
|
2,124 |
|
2,185 |
|
|
|
| |
– Repurchase agreements |
|
|
1,980 |
|
2,009 |
|
|
|
|
|
|
1,970 |
|
1,999 |
|
|
|
| |
– Derivative instrument |
|
|
154 |
|
186 |
|
|
|
|
|
|
154 |
|
186 |
|
|
|
| |
Forward exchange contract |
|
|
132 |
|
186 |
|
|
|
|
|
|
132 |
|
186 |
|
|
|
| |
Cross currency swaps |
|
|
22 |
|
– |
|
|
|
|
|
|
22 |
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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| |
Repurchase agreements:
The Group manages a portfolio of repurchase
agreements, with a view to generating additional
investment income on the favourable interest
rates and security provided on these instruments.
They are short term, usually seven days and are
held to maturity.
Financial instruments:
Financial assets consists of forward exchange
contracts of R132 million (2012: R193 million)
and cross currency swaps of R105 million
(2012: R41 million).
Derivative instruments:
Derivative assets at fair value consists of forward
exchange contracts of R132 million (2012:
R193 million) and cross currency swaps of
R105 million (2012: R41 million).
Other financial liabilities consist of: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
At fair value through profit or loss |
|
|
(12) |
|
(26) |
|
|
|
|
|
|
(12) |
|
(26) |
|
|
|
| |
Total other financial liabilities |
|
|
(66) |
|
(155) |
|
|
|
|
|
|
(69) |
|
(159) |
|
|
|
| |
– Derivative instrument |
|
|
(66) |
|
(155) |
|
|
|
|
|
|
(69) |
|
(159) |
|
|
|
| |
Forward exchange contract |
|
|
(15) |
|
(105) |
|
|
|
|
|
|
(15) |
|
(105) |
|
|
|
| |
Interest rate swap |
|
|
(51) |
|
(50) |
|
|
|
|
|
|
(54) |
|
(54) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Less: Current portion of other financial liabilities |
|
|
(54) |
|
(129) |
|
|
|
|
|
|
(57) |
|
(133) |
|
|
|
| |
– Derivative instrument |
|
|
(54) |
|
(129) |
|
|
|
|
|
|
(57) |
|
(133) |
|
|
|
| |
Forward exchange contract |
|
|
(15) |
|
(100) |
|
|
|
|
|
|
(15) |
|
(100) |
|
|
|
| |
Interest rate swap |
|
|
(39) |
|
(29) |
|
|
|
|
|
|
(42) |
|
(33) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
|
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| |
Financial liabilities consists of interest rate swaps of R51 million (2012: R50 million) for the Group and R54 million (2012: R54 million) for the
Company and forward exchange contracts of R15 million (2012: R105 million) for the Group and the Company.
Hedging activities and derivatives
The Group uses forward exchange contracts, interest rate swaps and cross currency swaps to economically hedge some of its transaction
exposures. However hedge accounting is not applied. |
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