Non-derivative financial liabilities
All financial liabilities are recognised initially on the trade date, which is the date that the
Company becomes a party to the contractual provisions.
The Company derecognises a financial liability when its contractual obligations are discharged,
cancelled or expire.
The Company classifies non-derivative financial liabilities as other financial liabilities. Such
financial liabilities are recognised initially at fair value plus any directly attributable transaction
costs. Subsequent to initial recognition, these financial liabilities are measured at amortised
cost using the effective yield method.
Other financial liabilities comprise accounts payable and other liabilities, amounts due to
group companies, dividend payable and due to Parent Company, net.
Offsetting
Financial assets and liabilities are offset and the net amount presented in the statement of
financial position when, and only when, the Company has a legal right to offset the amounts
and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.