✨ Financial Statements
NEW ZEALAND GAZETTE
No. 165
TRANSALTA NEW ZEALAND LIMITED
Notes to and forming part of the Financial Statements (Continued)
For the Year Ended 31 March 1998
Maximum exposures to credit risk included in the statement of financial position are:
| Line Business | Energy Business | |||
|---|---|---|---|---|
| 31-Mar-98 | 31-Mar-97 | 31-Mar-98 | 31-Mar-97 | |
| $000 | $000 | $000 | $000 | |
| Cash and short term investments | 23,982 | 20,275 | (301) | 2,128 |
| Loans and advances | - | 171 | - | 144 |
| Accounts receivable | 9,872 | 17,638 | 14,798 | 14,854 |
The above maximum exposures are net of any recognised provision for losses on these financial instruments.
The Company is not exposed to any significant concentrations of credit risk.
Interest Rate Risk
The Company is exposed to interest rate risk on its short-term investments and on its borrowings.
The risk with respect to short-term investments is managed by diversification of investments and within exposure limits in accordance with the Treasury Policy.
The Company enters into financial instruments to manage the interest rate risk in relation to its borrowings in accordance with the Treasury Policy.
Fair Values
Line Business
| 31-Mar-98 | 31-Mar-97 | |||
|---|---|---|---|---|
| Face Value | Fair Value | Carrying Value | Face Value | |
| $000 | $000 | $000 | $000 | |
| Cash and short term investments | 23,100 | 23,035 | 22,982 | 20,363 |
| Capital notes | 97,543 | 100,605 | 97,543 | 96,091 |
| Bonds | 189,387 | 195,797 | 189,387 | 186,568 |
| Interest rate swaps | 136,070 | (584) | (133) | - |
Energy Business
| 31-Mar-98 | 31-Mar-97 | |||
|---|---|---|---|---|
| Face Value | Fair Value | Carrying Value | Face Value | |
| $000 | $000 | $000 | $000 | |
| Cash and short term investments | (303) | (302) | (301) | 2,137 |
| Capital notes | - | - | - | 1,452 |
| Bonds | - | - | - | 2,820 |
The carrying value of accounts receivable and accounts payable are equal to their fair value.
Currency Risk
The Company has no significant exposure to currency risk at 31 March 1998.
The information disclosed in the 1998 Information Disclosure package issued by TransAlta New Zealand Limited has been prepared solely for the purposes of the Electricity (Information Disclosure) Regulations 1994.
The information should not be used for any other purpose than that intended under the regulations.
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VUW Te Waharoa —
NZ Gazette 1998, No 165
NZLII —
NZ Gazette 1998, No 165
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Financial Statements of TransAlta New Zealand Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Credit Risk, Interest Rate Risk, Fair Values, Currency Risk, Electricity (Information Disclosure) Regulations 1994