37
Provisions
1988
1987
These comprise:
Provision for deferred tax liabilities
Provision for pension liabilities
Provision for other personnel schemes
Other provisions
559,089
125,367
201,276
14,461
900,193
528,729
98,911
172,508
6,961
807,109
The provision for pension liabilities largely relates to
pensions and annuities which have not been funded by third
parties. The average rate of interest used in calculating the
present value of the provision for pension liabilities was 7%,
taking into consideration the interest rates existing in the
countries concerned.
The provisions are almost entirely to be considered as
becoming due and payable after more than one year.
Long-term debts
The debts becoming due and payable after more than one
year relate to:
Total
More
than 5 years
Total
More
than 5 years
Euro-guilder Notes Loan, interest 6.5%, redeemable on
February 11991
150,000
-
150,000
-
Loan in guilders, interest 10.25%, annual repayment of
N.fl. 5.3 million
26,668
5,335
32,002
10,669
Other debentures and private loans, average interest 11.3%
(1987: 11.9%)
433,409
60,676
382,130
38,359
i) Other debts, interest-free
54,730
30,183
54,666
10,098
664.807
96,194
618,798
59,126
The loan in guilders has been secured by the obligation
not to encumber the complex at Zoeterwoude in the
Netherlands. In relation to the other debentures and private
loans securities in the form of mortgages have been given
up to an amount of N.fl. 80 million (1987: N.fl. 111 million).
