Page 150 - Urban Renewal Authority 2023-24 Annual Report

NOTES TO THE FINANCIAL STATEMENTS

(expressed in Hong Kong Dollars)

12. Cash and bank balances (Continued)

The credit quality of the cash and bank balances, deposited with financial institutions, which are Hong
Kong Dollars and denominated in foreign currencies, can be assessed by reference to external credit
ratings of the financial institutions and are analysed as follows:

2024 2023

Rating (Moody’s) $’000 $’000
Aa1 – Aa3 9,768,829 9,007,886
A1 – A3 6,260,446 11,322,914
Others 514,239 492,369

16,543,514 20,823,169

Reconciliation of liabilities arising from financing activities:

The table below details changes in the Group’s liabilities from financing activities, including both cash and
non-cash changes. Liabilities arising from financing activities and liabilities for which cash flows were, or
future cash flow will be, classified in the Group’s consolidated statement of cash flows as cash flow from
financing activities.

Debt securities issued

2024 2023

$’000 $’000

At 1 April 798,601 1,097,775
Changes from financing cash flows:
– Redemption of debt securities (300,000) (300,000)

Other changes:
– Amortisation of debt securities issuing costs 510 826

At 31 March 499,111 798,601

148