Hong Kong Housing Society Annual Report 2014
144
Notes to the Financial Statements
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19 Provisions
(continued)
(b) Provision for financial guarantee
In relation to the sales of properties, the Housing Society has
requested a number of mortgage banks to grant the purchasers
mortgage loans up to above 70% of the price of the properties.
Provision for claims in the event of default was therefore made to
indemnify the banks for losses arising from the request. The
guarantee period is 20 years.
At 31 March 2014, total contingent liabilities in respect of the
guarantee are estimated to be approximately HK$1,912.9 million
(2013: HK$1,903.7 million) which could be required to be settled
on demand.
Based on expectations at the end of the reporting period, the
carrying amount of the financial guarantee as at 31 March 2014 is
subject to change depending on the probability of the counterparty
claiming under the guarantee which is a function of the likelihood
that the financial receivables held by the counterparty which are
guaranteed suffer credit losses. Should the actual credit losses be
different from the expected, an adjustment to the carrying amount
of the provision may arise.
(c) Building management/maintenance incentives
Under the Building Management and Maintenance Scheme,
eligible applicants will be granted financial assistance when they
satisfy certain criteria. Provision is made when the applications are
approved. Management estimates the amount of incentives based
on the approved applications with reference to the budgeted
quotation of each application. Should the actual maintenance
expenses be different from the expected, an adjustment to the
carrying amount of the provision may arise.
19
準備
（續）
(b)
財務保證準備
房屋協會曾要求銀行為其出售物業
的買家批出樓價七成以上之按揭，
此安排令房屋協會須提撥準備以償
還銀行因壞賬而須承擔的損失。此
承擔期限為二十年。
於二零一四年三月三十一日，
估 計 有 關 或 然 負 債 為 港 幣
十九億一千二百九十萬元（二零
一三年：港幣十九億零三百七十萬
元），並有即時清繳的可能。
根據於報告期末的估計，財務保證
於二零一四年三月三十一日的賬面
價值，是會因交易對手在這財務保
證中賦予的索償權的索償機會率而
改變，索償機會率取決於交易對手
因持有受保證的應收財務而導致的
信貸損失的可能性。如將來信貸損
失與估計有偏差，其可能引致準備
的賬面價值有調整。
(c)
樓宇管理及維修資助
樓宇管理及維修資助計劃為合資格
的申請人提供有關的財務資助，當
申請獲批核後，相關資助金額會作
撥備。管理層根據獲批核的申請，
並參考每項申請的預算報價，以及
管理層之最佳估計及判斷估計樓宇
管理及維修之資助。如將來實際資
助與估計有偏差，其可能引致準備
的賬面價值有調整。
