Page 148 - Urban Renewal Authority 2023-24 Annual Report
P. 148
NOTES TO THE FINANCIAL STATEMENTS
(expressed in Hong Kong Dollars)
10. Building rehabilitation loans
As at 31 March 2024, the building rehabilitation loans are analysed as follows:
2024 2023
$’000 $’000
Non-current portion 3,354 5,445
Current portion 2,443 3,218
5,797 8,663
The building rehabilitation loans are interest-free, except for default, in which case interest will be charged
on the overdue amount at the Prime Lending Rate quoted by The Hongkong and Shanghai Banking
Corporation Limited. The Group reserves the right to impose legal charges over the properties for loans of
amounts between $25,001 and $100,000. All non-current portion of building rehabilitation loans are due
within five years from the end of the reporting period.
The maximum exposure to credit risk of the Group is the carrying value of the building rehabilitation loans.
11. Investments
As at 31 March 2024, the debt securities investments are analysed as follows:
2024 2023
$’000 $’000
Investments at amortised cost
– Non-current portion 550,000 1,650,000
– Current portion 1,100,000 1,150,000
1,650,000 2,800,000
As at 31 March 2024, the Group’s debt securities investments represent high quality corporate bonds.
146
