Disclosure and presentation

20X2
$’000 
20X1 
$’000 
Domestic Currency 
2,073 
1,422 
Foreign Currency 
11,599 
8,613 
(iii) Interest Rate Risk Exposures
The entity’s exposure to interest rate risk and the effective weighted average interest 
rate by maturity periods is set out in the following table. For interest rates applicable 
to each class of asset or liability refer to individual notes to the financial statements 
[not shown here]. 
Exposures arise predominantly from assets and liabilities bearing variable interest 
rates as the entity intends to hold fixed rate assets and liabilities to maturity. 
(iv) Net Fair Value of Financial Assets and Liabilities 
On-balance-sheet 
The net fair value of cash and cash equivalents and non-interest bearing monetary 
financial assets and financial liabilities of the entity approximates their carrying 
amounts. 

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FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION 
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PUBLIC
SEC
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OR
The net fair value of other monetary financial assets and financial liabilities is based 
upon market prices where a market exists or by discounting the expected future cash 
flows by the current interest rates for assets and liabilities with similar risk profiles. 
Equity investments traded on organized markets have been valued by reference to 
market prices prevailing at the reporting date. For non-traded equity investments, the 
net fair value is an assessment by the Treasury Corporation based on the underlying 
net assets, future maintainable earnings and any special circumstances pertaining to a 
particular investment. 
Off-balance-sheet 
The entity has been indemnified against any losses which might be incurred in 
relation to shares in certain non-government corporations. The net fair value of the 
indemnity has been taken to be the difference between the carrying amount and the 
net fair value of the shares. 
The call option granting an unrelated party an option to acquire the entity’s interest 
Inter-Provincial Airlines is out-of-the money and the net fair value is immaterial. 
Debentures which were the subject of an in-substance defeasance and for which the 
entity has guaranteed repayment have a net fair value equal to their face value. 
The net fair value of financial assets or financial liabilities arising from interest rate 
swap agreements has been determined as the carrying amount, which represents the 
amount currently receivable or payable at the reporting date, and the present value of 
the estimated future cash flows which have not been recognized as an asset or 
liability. 
For forward exchange contracts, the net fair value is taken to be the unrealized gain 
or loss at the reporting date calculated by reference to the current forward rates for 
contracts with similar maturity profiles. 
The entity has potential financial liabilities which may arise from certain 
contingencies. No material losses are anticipated in respect of any of those 
contingencies and the net fair value disclosed below is the Ministry for Finance’s 
estimate of amounts which would be payable by the entity as consideration for the 
assumption of those contingencies by another party. 
The carrying amount and net fair values of financial assets and financial liabilities at 
the reporting date are: 

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FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION 
IPSAS 15 ILLUSTRATIVE EXAMPLES 
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