Page 46 - Annual Report 2017
P. 46
December 31, 2017
(expressed in United States Dollars)
2017 2016
$ $
7 Investment securities
loans and receivables: short term:
Term deposits 758,773 737,789
loans and receivables:
Long term bonds 442,714 442,714
1,201,487 1,180,503
Bonds are due ta mature in 2023 · 2024 bearing an interest rate of 4.625%.
Available ·for·sale
Equity securities
At beginning of the year 53,333 44,444
(Loss)/gain fram change in fair value (Note 16) (8,889) 8,889
At end ofthe year 44,444 53,333
Fair value measurement of financial instruments
Fair values of these bonds have been estimated by reference to observable data at the reporting date and are categorised within Level
2 of the fa ir value hierarchy.
The available·for-sale equity investment securities comprise 6,000 shares of St. Lucia Electricity Services Limited valued at EC$24 per
share at December 31 , 2017. These have been estimated by reference to quoted bid priees in active markets at the reporting date and
are categorised within Levell of the fa ir value hierarchy.
8 Other current assets
Prepayments 15,941 19,988
