98
財務報告
Financial Report
Notes to the financial statements (continued)
財務報表附註（續）
for the year ended 31 March 2015
截至二零一五年三月三十一日止年度
18. FINANCIAL INSTRUMENTS
(continued)
Financial risk management objectives and
policies
The Council’s major financial instruments include held-to-
maturity investments, available-for-sale investments, accounts
and other receivables, bank deposits and cash and other
payables. Details of these financial instruments are disclosed
in the respective notes. The risks associated with these
financial instruments include market risk (other price risk),
credit risk and liquidity risk. The policies on how to mitigate
these risks are set out below. The management manages and
monitors these exposures to ensure appropriate measures are
implemented on a timely and effective manner.
Market risk
Other price risk
The Council is exposed to equity price change risk arising
from its available-for-sale equity securities listed in Hong Kong
as disclosed in note 10.
The Council’s equity investments are companies listed on the
Stock Exchange of Hong Kong. These equity investments
have been chosen based on their longer term growth
potential and are monitored regularly for performance against
expectations.
Sensitivity analysis
The sensitivity analyses below have been determined based
on the exposure to equity price risks at the reporting date.
If the prices of the respective equity instruments had been
10% (2014: 10%) higher/lower and all other variables held
constant, the investment revaluation reserve would increase/
decrease by HK$1,474,990 (2014: increase/decrease by
HK$1,417,602) for the Council as a result of the changes in
fair value of the available-for-sale investments.
18.
金融工具（續）
財務風險管理目標及政
策
本局的主要金融工具包括持有
至到期投資、可供出售投資、應
收賬款及其他應收款項、銀行存
款及現金及其他應付款項。該等
金融工具的詳情於各相關附註
披露。與該等金融工具有關的
風險包括市場風險（其他價格風
險），信貸風險及流動資金風險。
有關如何降低該等風險的政策
列載如下。管理層管理及監控該
等風險，以確保可及時和有效地
採取適當措施。
市場風險
其他價格風險
根據附註
10
披露，本局需要就上
市可供出售股本證券承擔證券
價格變動風險。
本局的股本證券投資乃是於香
港聯合交易所上市的股本權益。
本局在挑選這些投資時會考慮
投資的長期增長潛力，並定期監
察其表現。
敏感度分析
以下的敏感度分析乃根據報告
期末所承受的價格風險而釐定。
倘有關權益工具的價格上升╱
下跌
10%
（二零一四年：
10%
）及
假設其他所有因素維持不變，本
局的投資重估儲備會因可供出
售投資的公允值變動而上升╱
下跌港幣
1,474,990
元（二零一四
年：上升╱下跌港幣
1,417,602
元）。
