176
FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
20.
ISSUE COSTS
FHT FH-REIT Group
FH-BT
30 Sep 2015
30 Sep 2015
30 Sep 2015
$’000
$’000
$’000
At 20 Jun 2014 (Date of constitution)
–
–
–
Issue costs (excluding goods and services tax)
comprise the following:
– Professional and other fees
(1)
13,512
13,512
–
– Financial advisory fee, underwriting fee and selling
commission
10,174
10,174
–
At 30 Sep 2015
23,686
23,686
–
(1)
Includes solicitors’ fees and fees for the reporting accountants, tax advisers and independent valuers and other professionals in connection
with the Initial Public Offering and Private Placement.
Issue costs have been deducted directly against the proceeds from the issuance of the Stapled Securities.
21.
RESERVES
(a)
Hedging reserve
FHT FH-REIT Group
FH-BT
30 Sep 2015
30 Sep 2015
30 Sep 2015
$’000
$’000
$’000
At 20 Jun 2014 (Date of constitution)
–
–
–
Net fair value gain on interest rate swaps
6,599
6,599
–
At 30 Sep 2015
6,599
6,599
–
Hedging reserve represents the cumulative fair value changes of derivative instruments until they are
disposed of. The fair value changes that are recognised in other comprehensive income are not subjected
to tax.
(b)
Foreign currency translation reserve
FHT FH-REIT Group
FH-BT
30 Sep 2015
30 Sep 2015
30 Sep 2015
$’000
$’000
$’000
At 20 Jun 2014 (Date of constitution)
–
–
–
Net currency translation differences arising
from translation from functional currency to
presentation currency
(59,450)
(59,450)
–
At 30 Sep 2015
(59,450)
(59,450)
–
The foreign currency translation reserve represents exchange differences arising from the translation of
the financial statements of foreign operations whose functional currencies are different from Singapore
dollars.
