Hotel Royal Limited - Annual Report 2015 - page 105

$118$/ 5(3257 )<
),1$1&,$/ ,167580(176 ),1$1&,$/ 5,6.6 $1' &$3,7$/ 5,6.6 0$1$*(0(17
FRQW¶G
F
)LQDQFLDO ULVN PDQDJHPHQW SROLFLHV DQG REMHFWLYHV FRQW¶G
7KH *URXS LQYHVWV LQ D YDULHW\ RI ILQDQFLDO LQVWUXPHQWV VXFK DV ERQGV IL[HG LQFRPH IXQGV DQG HTXLW\
VKDUHV DV GLVFORVHG LQ 1RWHV DQG 7KHVH LQYHVWPHQWV DUH VXEMHFW WR D YDULHW\ RI ILQDQFLDO ULVNV
LQFOXGLQJ FUHGLW ULVN RI FRXQWHUSDUWLHV OLTXLGLW\ ULVN LQWHUHVW UDWH ULVN IRUHLJQ FXUUHQF\ ULVN DQG RWKHU
PDUNHW ULVNV UHODWHG WR SULFHV RI HTXLW\
7KH *URXS HQJDJHV SURIHVVLRQDO LQYHVWPHQW PDQDJHUV IURP EDQNV WR PDQDJH WKH ULVNV DQG
UHWXUQV IURP FHUWDLQ ILQDQFLDO LQYHVWPHQWV 1RWHV DQG $OO LQYHVWPHQW DFFRXQWV RSHQHG ZLWK
SURIHVVLRQDO LQYHVWPHQW PDQDJHUV IURP EDQNV DUH DSSURYHG E\ WKH ERDUG RI GLUHFWRUV
,QYHVWPHQW PDQDJHUV IURP WKH EDQNV DUH JLYHQ GLVFUHWLRQDU\ SRZHUV WR PDNH LQYHVWPHQW GHFLVLRQV
RQ EHKDOI RI PDQDJHPHQW EDVHG RQ VSHFLILHG JXLGHOLQHV IRU PDQDJHG IXQGV
7KHUH KDV EHHQ QR FKDQJH WR WKH *URXS¶V H[SRVXUH WR ILQDQFLDO ULVNV RU WKH PDQQHU LQ ZKLFK LW
PDQDJHV DQG PHDVXUHV WKH ULVNV
G
([SRVXUH WR ILQDQFLDO ULVNV
L
&UHGLW ULVN
7KH *URXS¶V FUHGLW ULVN LV SULPDULO\ DWWULEXWDEOH WR LWV FDVK DQG EDQN EDODQFHV WUDGH DQG RWKHU
UHFHLYDEOHV DQG LQYHVWPHQWV &DVK IL[HG GHSRVLWV DQG FHUWDLQ LQYHVWPHQWV 1RWHV DQG
DUH NHSW LQ WKH FXVWRG\ RI FUHGLWZRUWK\ ILQDQFLDO LQVWLWXWLRQV 7UDGH UHFHLYDEOHV DUH ODUJHO\ IURP
FUHGLW FDUG FRPSDQLHV WRXU DJHQFLHV UHJXODU FRUSRUDWH FOLHQWV KRWHOV DQG WHQDQWV DW WKH
SURSHUWLHV RI WKH *URXS 'HSRVLWV PD\ EH FROOHFWHG WR PLWLJDWH WKH FUHGLW ULVNV
7KH *URXS KDV QR VLJQLILFDQW FRQFHQWUDWLRQ RI FUHGLW ULVN
7KH FDUU\LQJ DPRXQWV RI ILQDQFLDO DVVHWV UHFRUGHG LQ WKH ILQDQFLDO VWDWHPHQWV JURVVHG XS IRU
DQ\ DOORZDQFHV IRU ORVVHV UHSUHVHQW WKH *URXS¶V PD[LPXP H[SRVXUH WR FUHGLW ULVN
LL
,QWHUHVW UDWH ULVN
7KH *URXS LV H[SRVHG WR LQWHUHVW UDWH ULVN WKURXJK WKH LPSDFW RI UDWH FKDQJHV RQ LQWHUHVW
EHDULQJ OLDELOLWLHV DQG DVVHWV 6XPPDU\ TXDQWLWDWLYH GDWD RI WKH *URXS¶V LQWHUHVW EHDULQJ
ILQDQFLDO LQVWUXPHQWV FDQ EH IRXQG LQ 6HFWLRQ Y EHORZ
)XUWKHU LQIRUPDWLRQ UHODWHG WR LQWHUHVW UDWH DQG PDWXULWLHV RI EDQN ORDQV LV GLVFORVHG LQ 1RWHV
DQG
,QWHUHVW UDWH VHQVLWLYLW\
7KH VHQVLWLYLW\ DQDO\VHV EHORZ KDYH EHHQ GHWHUPLQHG EDVHG RQ WKH H[SRVXUH WR YDULDEOH
LQWHUHVW UDWHV IRU ILQDQFLDO DVVHWV DQG ILQDQFLDO OLDELOLWLHV DW WKH HQG RI WKH UHSRUWLQJ SHULRG $
EDVLV SRLQW LQFUHDVH RU GHFUHDVH LV XVHG ZKHQ PDQDJHPHQW DVVHVVHV VHQVLWLYLW\ WR LQWHUHVW
UDWH ULVN
,I LQWHUHVW UDWHV KDG EHHQ EDVLV SRLQWV KLJKHU RU ORZHU DQG DOO RWKHU YDULDEOHV ZHUH KHOG
FRQVWDQW WKH *URXS¶V SURILW ZRXOG GHFUHDVH LQFUHDVH E\ DSSUR[LPDWHO\
PLOOLRQ
GHFUHDVH LQFUHDVH E\
PLOOLRQ 7KLV LV DWWULEXWDEOH WR WKH *URXS¶V VKRUW WHUP DQG
ORQJ WHUP EDQN ERUURZLQJV
1...,95,96,97,98,99,100,101,102,103,104 106,107,108,109,110,111,112,113,114,115,...152
Powered by FlippingBook