Annual Report 2019

179 ANNUAL REPORT 2019 11. EMPLOYEES’ EMOLUMENTS (CONTINUED) (b) Five highest paid individuals Of the five individuals with the highest emoluments in the Group, three (2018: three) are directors (including the chief executive) and two (2018: two) are senior management of the Company whose emoluments are included in notes 10 and 11(a), respectively. During the years ended 31 December 2019 and 2018, no emoluments were paid by the Group to any of the directors of the Company or the chief executive of the Group or the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office. None of the directors of the Company or the chief executive of the Group waived any emoluments during the years ended 31 December 2019 and 2018. 12. FINANCE INCOME AND COSTS 2019 2018 HK$’million HK$’million Finance income from: Interest income from bank and other deposits 118 214 Interest income from advance to a joint venture 71 41 Interest income from amount due from a related party 21 61 Others 4 3 214 319 Interest expense on: Bank loans (598) (748) Listed notes payable (1,118) (842) Unlisted notes payable (142) (185) Loans from: – a non-controlling equity holder of a subsidiary (20) (20) – a fellow subsidiary (33) (52) – immediate holding company (1) — – an intermediate holding company — (5) – an associate (8) (29) Lease liabilities (54) — Others (44) (73) Total borrowing costs incurred (2,018) (1,954) Less: amount capitalised on qualifying assets (Note) 22 45 Finance costs (1,996) (1,909) Finance costs, net (1,782) (1,590) Note: Apart from the interest expenses incurred on borrowings specifically for the purposes of obtaining qualifying assets, those incurred from the general borrowing pool used for the purpose of obtaining qualifying assets are also capitalised in the consolidated statement of financial position. Capitalisation rate of 5.03% per annum (2018: 5.97% per annum) was applied, representing the weighted average rate of the costs of borrowings used to finance the qualifying assets.