New Zealand Gazette – 1996 – No. 145

Page 3503

✨ Financial Statements Notes

11 OCTOBER NEW ZEALAND GAZETTE 3503

CAPITAL POWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS ... continued

16 FINANCIAL INSTRUMENTS

Credit Risk
Financial instruments which potentially subject the Company to credit risk principally consist of Cash and Bank Balances, Accounts Receivable and Short Term Investments.

The Company performs credit evaluations on customers where possible and generally requires a bond.

The Company continuously monitors the credit quality of the major financial institutions that are counter parties to its Short Term Investments and does not anticipate non-performance by counter parties.

Concentrations of Credit Risk
The Company is not exposed to any concentrations of credit risk.

Currency Risk
The Company is not involved in foreign exchange trading and has no exposure to foreign currency risk.

Interest Rate Risk
There are no interest rate options or interest rate swap agreements in place as at balance date.

Fair Values
The estimated fair values of all financial instruments are the same as the carrying values disclosed in these financial statements.

Credit Facility
The Company did not have a bank overdraft facility as at balance date (1995: $0).

Debenture Security
The Company has jointly signed with Capital Energy Limited and Capital Holdings Limited a first ranking all obligation debenture over all its assets. This is security for Capital Energy Limited’s $65 million loan from Citibank N.A. and The National Bank of New Zealand. The priority ranking of the debenture is $135 million.

18 SEGMENTAL REPORTING

The Group operates in the electricity distribution industry in the Wellington and Nelson region. No segmental reporting is therefore required.

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VUW Te Waharoa — NZ Gazette 1996, No 145

NZLII — NZ Gazette 1996, No 145

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Capital Power Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Credit Risk, Currency Risk, Interest Rate Risk, Fair Values, Credit Facility, Debenture Security, Segmental Reporting

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