Annual Report 2016
145
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2016
25. BANK BORROWINGS
– continued
The weighted average effective interest rates (which are also equal to contracted interest rate) on
the Group’s borrowings are as follow:
THE GROUP
2016
2015
HK$’000
HK$’000
Weighted average effective interest rate:
– fixed rate borrowings
2.91%
3.08%
– variable rate borrowings
2.30%
2.43%
No loan covenants are required to comply for the Group’s unsecured bank loans for both years.
The fair values of the Group’s borrowings approximate their carrying amounts.
At the reporting date, the carrying amounts of the Group’s bank borrowings denominated in
currencies other than the respective group entities’ functional currencies are as follows:
2016
2015
HK$’000
HK$’000
United States dollars
30,876
20,610
