Page 100 - EdUHK Annual Report 2015-2016

THE EDUCATION UNIVERSITY OF HONG KONG 香港教育大學
(Expressed in Hong Kong dollars unless otherwise stated)(除另有說明外，所有金額以港幣為單位)
3 Financial risk and fund risk management (Continued)
3.1 Financial risk factors (Continued)
(a) Market risk (Continued)
(ii) Interest rate risk
The Group’s interest rate risk arises primarily from the interest-bearing nancial assets held under treasury investments, which are reviewed on a regular basis in accordance with the Group’s policies and guidelines.
Based on the sensitivity analysis performed at 30
June 2016, if interest rates on variable rate interest- bearing bank deposits had been 50 basis points
higher or 25 basis points lower with all other variables held constant, surplus for the year would have been $828,000 higher (2015: $639,000 higher) or $155,000 lower (2015: $128,000 lower) respectively, as a result of higher/lower interest income on bank deposits.
(iii) Price risk
Price risk refers to equity price changes arising from equity investments classi ed as nancial assets at fair value through pro t or loss. The Group is not exposed to commodity price risk. To manage its equity price risk, the portfolio is diversi ed in accordance with the limits set by the Group. Given the insigni cant amount of the portfolio of listed equity investments held by the Group, the management believes that the Group’s equity price risk is minimal.
(b) Credit risk
The Group’s credit risk is primarily attributable to its deposits and cash at banks, accounts receivable and investment balances with nancial institutions. There
are procedures in place to mitigate the risk and the exposures to these credit risks are monitored closely by the management on an ongoing basis.
3 財務風險及資金風險管理(續)
3.1 財務風險因素(續)
(甲) 市場風險(續) (二) 利率風險
本集團的利率風險主要來自在庫務 投資下持有的計息金融資產，此等 資產根據本集團的政策和指引定期 檢討。
根據在二零一六年六月三十日進 行的敏感度分析，假若以浮動利率 計息的銀行存款的利率上升50個 基點或下跌25個基點而所有其他 變數維持不變，則該年度的盈餘將 會因為銀行存款的利息收入上升/ 下跌而分別相應增加828,000元 (二零一五年:增加639,000元)或 減少155,000元(二零一五年:減少 128,000元) 。
(三) 價格風險
價格變動風險乃來自被分類為按 公允價值列賬及透過收益表處理 的股票投資。但本集團並無承受商 品價格風險。為管理其股票價格風 險，本 集 團 在 其 所 設 定 的 限 額 內 分 散投資組合。基於本集團持有的上 市股權投資組合的數額不大，管理 層認為本集團的股權價格風險甚 低。
(乙) 信貸風險
本集團的信貸風險主要來自其存款與銀 行現金、應收賬款及金融機構的投資結 餘。本 集 團 有 既 定 程 序 將 風 險 減 輕，而 管理層亦會持續密切監察信貸風險的 承擔。
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The Education University of Hong Kong Annual Report 2015-2016