NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
Financial Statements
135
Annual Report 2014
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:
2014
2013
SGD USD RMB Total
SGD USD RMB Total
$’000 $’000 $’000 $’000
$’000 $’000 $’000 $’000
Financial assets
Cash and cash equivalents
19,667 26,766
1 46,434
2,295 52,112
1 54,408
Trade and other receivables
56
– 31,085 31,141
1,411
4 30,359 31,774
19,723 26,766 31,086 77,575
3,706 52,116 30,360 86,182
Financial liabilities
Other financial liabilities
17,378
–
– 17,378
18,147
–
2 18,149
Net financial assets/(liabilities)
2,345 26,766 31,086 60,197
(14,441)
52,116 30,358 68,033
Less: Net financial
assets/(liabilities)
denominated in the
entity’s functional
currency
(2,345)
–
–
14,441
–
–
Currency exposure
– 26,766 31,086
– 52,116 30,358
If the USD changes against the SGD and RMB by 500 basis points (2013: 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:
2014
2013
Increase/(decrease)
Profit after tax
Profit after tax
$’000
$’000
The Group
USD against SGD
- Strengthened
810
1,712
- Weakened
(810)
(1,712)
USD against RMB
- Strengthened
(2,040)
(1,461)
- Weakened
2,040
1,461
The Company
USD against SGD
- Strengthened
838
1,713
- Weakened
(838)
(1,713)
RMB against SGD
- Strengthened
6,040
6,040
- Weakened
(6,040)
(6,040)
