Page 135 - ar2013.pdf

NOTES TO THE FINANCIAL STATEMENTS
For the Ànancial year ended 31 December 2013
133
Annual Report 2013
F i nanc i a l Statement s
34. Financial risk management (continued)
(a) Market risk (continued)
(i) Currency risk (continued)
The Company’s currency exposure based on the information available to key management is as
follows:
2013 2012
SGD USD RMB Total SGD USD RMB Total
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Financial assets
Cash and cash equivalents 2,295 52,112 1 54,408 8,868 75,036 1 83,905
Trade and other receivables 1,411 4 30,359 31,774 1,407 7 15,469 16,883
3,706 52,116 30,360 86,182 10,275 75,043 15,470 100,788
Financial liabilities
Other financial liabilities 18,147 – 2 18,149 17,877 – 9 17,886
Net financial (liabilities)/assets (14,441) 52,116 30,358 68,033 (7,602) 75,043 15,461 82,902
Less: Net financial assets
denominated in the entity’s
functional currency 14,441 – – 7,602 – –
Currency exposure – 52,116 30,358 – 75,043 15,461
If the USD changes against the SGD and RMB by 500 basis points (2012: 500 basis points) with all
other variables including tax rate being held constant, the effects arising from the net financial asset
position will be as follows:
2013 2012
Increase/(decrease)
Profit
after tax
Profit
after tax
$’000 $’000
The Group
USD against SGD
- strengthened 1,712 2,575
- weakened (1,712) (2,575)
USD against RMB
- strengthened (1,461) 3,193
- weakened 1,461 (3,193)
The Company
USD against SGD
- strengthened 1,713 2,550
- weakened (1,713) (2,550)