33. Financial risk management objectives and policies (cont’d)
(a) Market risk (cont’d)
(ii) Foreign currency risk (cont’d)
The Company is exposed to foreign currency exchange rate movements
primarily for United States Dollar (“USD”) and Euro (“EUR”) on its balances
with related parties.
SGD USD EUR Total
Company
$’000 $’000 $’000 $’000
2015
Financial assets
Trade and other receivables 254,429 2,737
7,039 264,205
Cash and bank balances
1,190
–
–
1,190
255,619 2,737
7,039 265,395
Financial liabilities
Trade and other payables
81,372
–
7,084 88,456
Interest-bearing loans
and borrowings
150,000
–
– 150,000
231,372
–
7,084 238,456
Net financial assets
24,247 2,737
(45)
26,939
Net financial assets
denominated in the
functional currency
of the Company
(24,247)
–
– (24,247)
Currency exposure
–
2,737
(45)
2,692
2014
Financial assets
Trade and other receivables 196,104 2,537
8,017 206,658
Cash and bank balances
2,663
–
–
2,663
198,767 2,537
8,017 209,321
Financial liabilities
Trade and other payables
74,355
–
8,067 82,422
Interest-bearing loans
and borrowings
100,000
–
– 100,000
174,355
–
8,067 182,422
Net financial assets
24,412 2,537
(50)
26,899
Net financial assets
denominated in the
functional currency
of the Company
(24,412)
–
– (24,412)
Currency exposure
–
2,537
(50)
2,487
NOTES TO THE FINANCIAL
STATEMENTS
For the financial year ended 30 June 2015
ASL Marine Holdings Ltd. /Annual Report 2015
152
