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Financial Instruments (Tables) | 12 Months Ended
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Apr. 30, 2023
Text Block [Abstract] |
Summary of Categories of financial instruments |
| a. | Categories of financial instruments
|  | 2022 |  |  | 2023 |
|  | US$ |  |  | US$ |
Financial assets |  |  |  |  |  |  |  |
Financial assets at FVTPL |  |  | 19,130 |  |  |  | 14,413 |
Amortized cost |  |  | 376,986 |  |  |  | 328,024 |
Financial liabilities |  |  |  |  |  |  |  |
Amortized cost |  |  | 4,304 |  |  |  | 123,780 |
Summary of entity internal credit risk grading assessment | The Group’s internal credit risk grading assessment comprises the following categories:
Internal credit rating |  | Description |  | Commission receivable from digital solutions services—financial services, accounts receivable arising from digital solutions services—non financial services and accounts receivable from hotel operations, hospitality and VIP services |  | Other financial assets
Normal risk |  | The counterparty has a low risk of default and usually settled within credit period |  | Lifetime ECL-not credit-impaired |  | 12-month ECL
Doubtful |  | There have been significant increases in credit risk since initial recognition through information developed internally or external resources |  | Lifetime ECL-not credit-impaired |  | Lifetime ECL-not credit-impaired
Loss |  | There is evidence indicating the asset is credit-impaired |  | Lifetime ECL-credit-impaired |  | Lifetime ECL-credit-impaired
Write-off |  | There is evidence indicating that the debtor is in severe financial difficulty and the Group has no realistic prospect of recovery |  | Amount is written off |  | Amount is written off
Summary of credit risk exposures of the financial assets, which are subject to ECL assessment | The table below details the credit risk exposures of the Group’s financial assets, which are subject to ECL assessment:
|  | Notes |  | Internal credit rating |  | 12m ECL or lifetime ECL |  | 2022 Gross carrying amount |  |  | 2023 Gross carrying amount |
|  |  |  |  |  |  |  | US$ |  |  | US$ |
Financial assets at amortized costs |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commission receivable from digital solutions services—financial services |  | 21 |  | (Note) |  | Lifetime ECL (provision matrix) |  |  | 201 |  |  |  | 274 |
Accounts receivable arising from digital solutions services—non financial services |  | 21 |  | (Note) |  | Lifetime ECL - not credit-impaired |  |  | 4,838 |  |  |  | 8,541 |
Accounts receivable from hotel operations, hospitality and VIP services |  | 21 |  | (Note) |  | Lifetime ECL (provision matrix) |  |  | — |  |  |  | 988 |
Consideration receivables |  | 21 |  | Normal risk |  | 12-month ECL |  |  | 32,520 |  |  |  | — |
Deposits |  | 21 |  | Normal risk |  | 12-month ECL |  |  | — |  |  |  | 141 |
Note receivables |  | 21 |  | Normal risk |  | 12-month ECL |  |  | 677 |  |  |  | 150 |
Other receivables |  | 21 |  | Normal risk |  | 12-month ECL |  |  | 1,488 |  |  |  | 6,886 |
Amounts due from joint ventures |  | 16 |  | Normal risk |  | 12-month ECL |  |  | — |  |  |  | 30,346 |
Amount due from AMTD Group |  | 30 |  | Normal risk |  | 12-month ECL |  |  | 321,438 |  |  |  | 126,444 |
Amount due from a non-controlling shareholder |  | 30 |  | Normal risk |  | 12-month ECL |  |  | — |  |  |  | 539 |
Cash and cash equivalents |  |  |  | Aa3 |  | 12-month ECL |  |  | 14,337 |  |  |  | 152,930 |
Fiduciary bank balances |  |  |  | Normal risk |  | 12-month ECL |  |  | 1,487 |  |  |  | 785 |
|  |  |  |  |  |  |  |  | 376,986 |  |  |  | 328,024 |
| Note: | For commission receivable from digital solutions services—financial services, accounts receivable arising from digital solutions services—non financial services and accounts receivable from hotel operations, hospitality and VIP services, the Group has applied the simplified approach in IFRS 9 to measure the loss allowance at lifetime ECL. The Group determines the ECL on commission receivable from digital solutions services—financial services and accounts receivable from hotel operations, hospitality and VIP services on a collective basis, grouped by internal credit rating. For accounts receivable arising from digital solutions services—non financial services, the ECL is assessed on an individual basis.
The previously written off accounts receivable amounting to US$20 and US$2 had been recovered during the year ended April 30, 2022 and 2023, respectively. The expected credit losses as at April 30, 2022 and 2023 were insignificant and no loss allowance was provided.
Summary of Maturity analysis for Nonderivative Financial Liabilities | The following table details the Group’s remaining contractual maturity for its financial liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group may be required to pay. The maturity dates for non-derivative financial liabilities are based on the agreed repayment dates. Liquidity tables
|  | Weighted average interest rate |  |  | On demand or less than 1 year |  |  | Total undiscounted cash flows |  |  | Carrying amount |
|  |  |  |  | US$ |  |  | US$ |  |  | US$ |
At April 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | — |  |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Clients’ monies held on trust |  |  | — |  |  |  | 847 |  |  |  | 847 |  |  |  | 847 |
Other payables and accruals |  |  | — |  |  |  | 3,447 |  |  |  | 3,447 |  |  |  | 3,447 |
|  |  |  |  |  |  | 4,304 |  |  |  | 4,304 |  |  |  | 4,304 |
|  | Weighted average interest rate |  |  | On demand or less than 1 year |  |  | Total undiscounted cash flows |  |  | Carrying amount |
|  |  |  |  | US$ |  |  | US$ |  |  | US$ |
At April 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | — |  |  |  | 493 |  |  |  | 493 |  |  |  | 493 |
Clients’ monies held on trust |  |  | — |  |  |  | 428 |  |  |  | 428 |  |  |  | 428 |
Other payables and accruals |  |  | — |  |  |  | 3,253 |  |  |  | 3,253 |  |  |  | 3,253 |
Interest bearing bank borrowings |  |  | 7.6% |  |  |  | 66,764 |  |  |  | 66,764 |  |  |  | 65,803 |
Interest bearing amount due to a non-controlling shareholder |  |  | 5.3% |  |  |  | 34,283 |  |  |  | 34,283 |  |  |  | 33,122 |
Non-interest bearing amount due to a non-controlling shareholder |  |  | — |  |  |  | 20,681 |  |  |  | 20,681 |  |  |  | 20,681 |
|  |  |  |  |  |  | 125,902 |  |  |  | 125,902 |  |  |  | 123,780 |
Summary of financial assets that are measured at fair value on a recurring basis |
| (i) | Fair value of the Group’s financial assets that are measured at fair value on a recurring basis
The Group’s investments in private equity are measured at fair value at the end of each reporting period. The following table gives information about how the fair values of these financial assets are determined (in particular, the valuation technique(s) and inputs used).
Financial assets |  | Fair value as at |  |  | Fair value hierarchy |  | Valuation technique(s) and key inputs |  | Significant unobservable input(s)
|  | 2022 |  |  | 2023 |  |  |  |  |  |  |
|  | US$ |  |  | US$ |  |  |  |  |  |  |
Financial assets at FVTPL - unlisted equity securities |  |  | 488 |  |  |  | 489 |  |  | Level 2 |  | The fair values of unlisted equity investments are determined with reference to the recent transaction price of the investments. |  | N/A
|  |  | 10,603 |  |  |  | — |  |  | Level 3 |  | Market approach - the option pricing model (“OPM”) backsolve approach was used to calculate the implied equity value of the investee. Once an overall equity value was determined, amounts were allocated to the various classes of equity based on the security |  | Expected volatility ranged from 57.4% to 68.6% as at April 30, 2022, respectively, taking into account peer companies’ volatility used by market participants when pricing the investment (note (i)).
Financial assets |  | Fair value as at |  |  | Fair value hierarchy |  | Valuation technique(s) and key inputs |  | Significant unobservable input(s)
|  | 2022 |  |  | 2023 |  |  |  |  |  |  |
|  | US$ |  |  | US$ |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | class preferences. The inputs to the OPM backsolve approach are the recent transaction price for capital structure, probability of IPO, redemption and liquidation, the risk-free interest rate and expected volatility. |  |
Movie income right investments |  |  | 8,039 |  |  |  | 13,924 |  |  | Level 3 |  | Income approach - in this approach, the discounted cash flow method was used to capture the present value of the expected future economic benefits to be derived from the investments in these movie income right investments, based on an appropriate discount rate. |  | Discount rate, taking into account weighted average cost of capital determined using a Capital Asset Pricing Model ranged from 10.40 % to 12.59 % and 10.40 % to 13.67 % as at April 30, 2022 and 2023 (note (ii)) and expected ticket sales performance and expected movie production costs.
Notes:
| (i) | A change in the expected volatility used in isolation would result in a change in the fair value of the private equity investments. A 5% increase/(decrease) in the expected volatility holding all other variables constant would result in a net (decrease)/increase in the carrying amount of the private equity investments by (US$108)/US$102 as at April 30, 2022.
| (ii) | A 5% increase/(decrease) in the discount rate holding all other variables constant would (decrease)/increase the carrying amount of the movie income right investments by (US$603)/US$ 691 and (US$529)/US$60 as at April 30, 2022 and 2023, respectively.
Summary of Reconciliation of Level 3 fair value measurements | Reconciliation of Level 3 fair value measurements
|  | Unlisted investments classified as equity instruments at FVTPL |  |  | Movie income right investments |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |
At May 1, 2021 |  |  | 26,126 |  |  |  | 10,445 |  |  |  | 36,571 |
Total gains in profit or loss |  |  | 16,564 |  |  |  | 371 |  |  |  | 16,935 |
Transfer from Level 2 to Level 3 |  |  | 796 |  |  |  | — |  |  |  | 796 |
Receipt of investment return |  |  | — |  |  |  | (2,681 | ) |  |  | (2,681 | )
Disposals |  |  | (32,712 | ) |  |  | — |  |  |  | (32,712 | )
Exchange realignment |  |  | (171 | ) |  |  | (96 | ) |  |  | (267 | )
At April 30, 2022 |  |  | 10,603 |  |  |  | 8,039 |  |  |  | 18,642 |
Total gains in profit or los s |  |  | 15,036 |  |  |  | 350 |  |  |  | 15,386 |
New investment |  |  | — |  |  |  | 5,545 |  |  |  | 5,545 |
Disposals |  |  | (25,650 | ) |  |  | — |  |  |  | (25,650 | )
Exchange realignment |  |  | 11 |  |  |  | (10 | ) |  |  | 1 |
At April 30, 2023 |  |  | — |  |  |  | 13,924 |  |  |  | 13,924 |

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