8. Finance costs
|
|
|
Year ended |
|
Year ended |
|
Year ended |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
Interest on: |
|
|
|
|
|
|
|
Bank and other borrowings |
|
25,543 |
|
17,793 |
|
11,879 |
|
Interest on finance leases |
|
232 |
|
62 |
|
— |
|
Interest on convertible bonds |
|
15,818 |
|
16,352 |
|
13,238 |
|
Interest on corporate bonds |
|
22,405 |
|
22,327 |
|
22,253 |
|
Interest on medium-term notes |
|
8,185 |
|
4,625 |
|
— |
|
Interest on short-term notes |
|
1,164 |
|
1,509 |
|
— |
|
Less: government funding (Note 11.5) |
|
(24,182) |
|
(11,639) |
|
(4,895) |
|
Total interest expense for financial liabilities not classified as at FVTPL |
|
49,165 |
|
51,029 |
|
42,475 |
|
Less: amounts capitalized |
|
(31,144) |
|
(27,992) |
|
(30,257) |
|
|
|
18,021 |
|
23,037 |
|
12,218 |
The weighted average effective interest rate on funds borrowed generally is 1.65% per annum (2016: 2.12% per annum and 2015: 3.75% per annum).