KUWAIT ENERGY plc GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2013
F-70
29.
FINANCIAL INSTRUMENTS (CONTINUED)
Liquidity risk management (continued)
Ultimate responsibility for liquidity risk management rests with the management, which has built an appropriate
liquidity risk management framework for the management of the Group’s short, medium and long-term funding
and liquidity management requirements. The Group manages liquidity risk by maintaining adequate reserves and
banking facilities, by continuously monitoring forecast and actual cash flows and matching the maturity profiles
of financial assets and liabilities.
The following tables detail the Group’s remaining contractual maturity for its financial liabilities. The tables have
been drawn up based on the undiscounted cash flows of financial liabilities, including interest.
At 31 December 2013
Financial
liabilities
Less than
1 year
Between
1 and 3
years
Between
3 and 5
years
More
than 5
years
Total
Weighted
average
effective
interest rate
USD
000’s
USD
000’s
USD
000’s
USD
000’s
USD
000’s
%
Long-term
loans
84,346
93,447
-
-
177,793
6.62%
Convertible
loans
8,000
16,000
96,796
17,169
137,965
16%
Trade and other
payables
93,617
-
-
-
93,617
185,963
109,447
96,796
17,169
409,375
At 31 December 2012
Financial
liabilities
Less than
1 year
Between
1 and 3
years
Between
3 and 5
years
More
than 5
years
Total
Weighted
average
effective
interest rate
USD
000’s
USD
000’s
USD
000’s
USD
000’s
USD
000’s
%
Long-term
loans
3,306
6,654
66,600
-
76,560
6.62%
Convertible
loans
7,359
16,000
16,000
89,967
129,326
16%
Trade and other
payables
44,401
-
-
-
44,401
-
55,066
22,654
82,600
89,967
250,287
