Annual Report 2019

222 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 31 Financial risk management and fair values of financial instruments (continued) (b) Liquidity risk (continued) The following tables detail the remaining contractual maturities at the end of the reporting period of the Group’s non- derivative financial liabilities and derivative financial liabilities, which are based on contractual undiscounted cash flows (including interest payments computed using interest rates current at the end of the reporting period) and the earliest date the Group can be required to pay: Non-derivative financial liabilities 2019 2018 Contractual undiscounted cash flow Contractual undiscounted cash flow Within 1 year or on demand More than 1 year but less than 2 years More than 2 years but less than 5 years Total Carrying amount at 31 December Within 1 year or on demand More than 1 year but less than 2 years More than 2 years but less than 5 years Total Carrying amount at 31 December $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Bank loans 86,453 86,453 2,702,375 2,875,281 2,706,572 81,246 81,246 2,737,395 2,899,887 2,625,039 Lease liabilities (note) 4,042 3,162 – 7,204 7,018 – – – – – Accounts payable and accruals 1,339,459 – – 1,339,459 1,339,459 1,032,412 – – 1,032,412 1,032,412 1,429,954 89,615 2,702,375 4,221,944 4,053,049 1,113,658 81,246 2,737,395 3,932,299 3,657,451 Note: The Group has initially applied HKFRS 16 using the modified retrospective approach and adjusted the opening balances at 1 January 2019 to recognise lease liabilities relating to leases which were previously classified as operating leases under HKAS 17. Lease liabilities include amounts recognised at the date of transition to HKFRS 16 in respect of leases previously classified as operating leases under HKAS 17 and amounts relating to new leases entered into during the year. Under this approach, the comparative information is not restated. See note 1(c). Derivative financial liabilities 2018 Contractual undiscounted cash flow Within 1 year or on demand Total $’ 000 $’ 000 Derivatives settled gross: Forward foreign exchange contracts held as cash flow hedging instruments: – outflow (101,887) (101,887) – inflow 100,541 100,541 Other forward foreign exchange contracts: – outflow (11,898) (11,898) – inflow 11,986 11,986