Interim Report 2023

49 INTERIM REPORT 2023 16. BANK AND OTHER BORROWINGS (CONTINUED) Notes: (a) As at 30 June 2023 and 31 December 2022, the following assets are pledged against the Group’s secured loans from banks and a fellow subsidiary: 30 June 31 December 2023 2022 HK$’million HK$’million Property, plant and equipment 452 — Right-of-use assets 35 37 487 37 In addition to the above, the entire shareholdings in a subsidiary indirectly (31 December 2022: two subsidiaries directly or indirectly) held by the Company as at 30 June 2023, are also pledged to various banks for bank facilities granted to the relevant subsidiaries. (b) Included in the amount of loan from a fellow subsidiary of HK$382 million (31 December 2022: HK$269 million) is from a financial institution approved and regulated by the People’s Bank of China and the China Banking Regulatory Commission. The amounts are unsecured, interest-bearing at 1.20% to 3.20% per annum. Included in the amount of loan from another fellow subsidiary of HK$384 million (31 December 2022: nil) is secured and interest bearing at 3% plus the 3-month term secured overnight financing rate per annum. (c) The amount is unsecured, interest-bearing at 5% discount to the People’s Bank of China Benchmark Interest Rate per annum. (d) Listed notes issued by subsidiaries of the Company of HK$19,524 million (31 December 2022: HK$19,421 million) are secured by corporate guarantees provided by the Company. The fair values of the listed notes payable as at 30 June 2023 was HK$19,350 million (31 December 2022: HK$19,207 million). Other than the listed notes payable, the carrying amounts of the bank and other borrowings approximate their fair values as at 30 June 2023 and 31 December 2022. (e) The Group is required to comply with certain financial covenants and non-financial covenants throughout the continuance of the relevant loans. The Group has complied with the covenants throughout the reporting period. (f) As at 30 June 2023, the Group has undrawn bank loan facilities and other debt financing instruments amounting to HK$15,912 million (31 December 2022: HK$26,198 million), of which HK$3,058 million (31 December 2022: HK$12,204 million) and HK$12,854 million (31 December 2022: HK$13,994 million) are committed and uncommitted credit facilities, respectively. The Group has entered into additional bank facilities arrangement subsequent to the period end to ensure the liquidity of the Group. (g) The bank and other borrowings as at 30 June 2023 and 31 December 2022 are repayable as follows: Loan from Loans from immediate Bank loans fellow subsidiaries holding company Notes payable Total 30 June 31 December 30 June 31 December 30 June 31 December 30 June 31 December 30 June 31 December 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million Within 1 year 5,057 8,091 605 4 — 1,458 7,048 7,008 12,710 16,561 Between 1 and 2 years 416 592 — 217 — — 3,909 — 4,325 809 Between 2 and 5 years 5,177 4,071 — — — — 3,904 7,775 9,081 11,846 Within 5 years 10,650 12,754 605 221 — 1,458 14,861 14,783 26,116 29,216 More than 5 years 1,866 627 161 48 — — 4,663 4,638 6,690 5,313 Total 12,516 13,381 766 269 — 1,458 19,524 19,421 32,806 34,529