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ASX Additional Information

Investments

Investments of surplus cash and deposits and derivative financial instruments are with banks with high credit ratings. Given their high credit

ratings, management does not expect any counterparty to fail to meet its obligations.
At the balance sheet date, there were no significant concentrations of credit risk. The maximum exposure to credit risk is represented by the
carrying amount of each financial asset, including derivative financial instruments, in the Balance Sheet.

Guarantees

All guarantees are in respect of obligations of subsidiaries, partnerships in which the Group has an interest or associates. Details of guarantees
given by the Company and the Group are provided in Note 31 and Note 32.

The Group’s exposure

The Group’s maximum exposure to credit risk at the reporting date was:

THE GROUP

Note
2008
$’000
2007
$’000
Available-for-sale financial assets
Receivables
Cash and cash equivalents
Security deposits in respect of long-term leases
Interest rate swaps used for hedging
Forward exchange contracts used for hedging
15
11
10
20
13
13
10,610
35,007
28,472
4,985
372
25
79,471
13,692
37,386
21,800
5,490
2,066
—
80,434
The maximum exposure to credit risk for receivables at the reporting date by geographic region was:
Domestic
New Zealand
Germany and other Euro-zone countries
United Kingdom
25,059
1,207
8,728
13
35,007
24,329
1,560
11,431
66
37,386
The maximum exposure to credit risk for receivables by business segment at the reporting date was:
Cinema Exhibition
Hotels
Thredbo Alpine Resort
Leisure / Attractions
Property
Entertainment Technology
Other
15,546
7,577
574
298
2,924
3,701
4,387
35,007
14,907
8,649
878
197
4,047
3,485
5,223
37,386

The Company’s exposure

The Company’s maximum exposure to credit risk at the reporting date was $192,431,000 (2007: $344,684,000) for loans and receivables. This
exposure is limited to Australia. Subsidiaries account for $191,725,000 (2007: $344,009,000) of the Company’s receivables carrying amount.

Liquidity risk

Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group manages liquidity risk by
continuously monitoring forecast and actual cash flows. Group Treasury aims at maintaining flexibility in funding by keeping committed credit
lines available with a number of counterparties.