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| As at 31 December 2006, about
90% of the Group’s loan portfolio was
raised on committed funding basis. The
balance 10% was funded by a
portfolio of relatively cheaper and flexible
uncommitted short-term facilities. On
balance, the Group monitors its asset
versus liability match and ensures that
an appropriate portion of committed
funding is put in place to match the
planned investments’ holding periods.
Taking into account the Group’s
investment strategy, committed
financing was secured whenever
possible to support its ongoing
investments. This was carefully
balanced with some portion of its
loan portfolio funded by short-term
lines which allowed the Group to
optimise the overall cost of funding,
facilitate repayment of its debts from
divestment or sales proceeds and yet
assured the Group with sufficient credit
resources to support its operations. |
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