NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
134
COSCO Corporation (Singapore) Limited
34.
Financial risk management
(continued)
(a)
Market risk (continued)
(i)
Currency risk (continued)
SGD USD RMB Others*
Total
$’000
$’000
$’000
$’000
$’000
At 31 December 2013
Financial assets
Cash and cash equivalents
and available-for-sale financial
assets
18,955 793,135 1,217,874 2,824 2,032,788
Trade and other receivables,
excluding advances paid to
suppliers
2,057 2,192,357 158,691
13 2,353,118
Receivables from subsidiaries
–
– 30,359
–
30,359
Other financial assets
103
–
2,557
–
2,660
21,115 2,985,492 1,409,481 2,837 4,418,925
Financial liabilities
Borrowings
– 2,880,348 902,180
– 3,782,528
Payables by subsidiaries
–
– 30,359
–
30,359
Other financial liabilities
4,940 228,350 1,796,294 12,398 2,041,982
4,940 3,108,698 2,728,833 12,398 5,854,869
Net financial assets/(liabilities)
16,175 (123,206) (1,319,352)
(9,561) (1,435,944)
Less: Net financial
assets/(liabilities)
denominated in the
respective entities’
functional currencies
(15,741)
(56,118) 1,319,225
–
Add: Firm commitments and
highly probable forecast
transactions in foreign
currencies
– 2,249,944
– (79,581)
Less : Currency forwards
– (125,906)
–
–
Currency exposure
434 1,944,714
(127)
(89,142)
* Others mainly include Euro, Norwegian Kronor and Japanese Yen.
