The participation in export partnerships is measured at amortised cost using the effective interest rate method. Amortised cost is the cost of the original participation less subsequent principle repayments received, plus the cumulative amortisation of the difference between the initial amount, and the maturity amount less any written down for impairment or uncollectability.

For fair value purposes, any impairment in the amounts due to the Group by virtue of its participation in export partnerships would result in a corresponding reduction in the carrying value of the related deferred tax liability. Consequently, such impairment would have no impact on the income statement of the Group.