Notes to the Condensed Interim Financial Statements 19. Derivative Financial Instruments The Group uses derivative financial instruments solely for management of an underlying risk. The Group minimises its exposure to market risk since gains and losses on derivatives offset the losses and gains on the assets, liabilities or transactions being hedged. It is the Group’s policy not to enter into derivative transactions for speculative purposes. 30th June 2024 31st December 2023 Assets Liabilities Assets Liabilities HK$M HK$M HK$M HK$M Interest rate and cross-currency swaps – cash flow hedges – due after one year 99 10 57 22 20. Trade and Other Receivables 30th June 31st December 2024 2023 HK$M HK$M Trade debtors 375 500 Prepayments and accrued income 138 116 Amounts due from an intermediate holding company 1 1 Other receivables 3,070 2,889 3,584 3,506 The analysis of the age of trade debtors at the period end (based on their invoice dates) is as follows: 30th June 31st December 2024 2023 HK$M HK$M Up to 3 months 332 468 Between 3 and 6 months 21 14 Over 6 months 22 18 375 500 There is no concentration of credit risk with respect to trade and other receivables, as the Group has a large number of customers. The Group does not grant any credit terms to its customers, except to corporate customers in the hotel division where commercial trade credit terms are given. 70 Swire Properties Limited Interim Report 2024