Financial Statements - Mewah Group

MEWAH INTERNATIONAL INC.
ANNUAL REPORT 2011
Notes to the Financial Statements
For the financial year ended 31 December 2011
32. Financial risk management (continued)
(a)
Market risk (continued)
(i)
Currency risk (continued)
The Group’s currency exposure based on the information provided to key management was as follows:
USD SGD Ringgit Others Total
US$’000 US$’000 US$’000 US$’000 US$’000
At 31 December 2011
Financial assets
Cash and cash equivalents 48,284 31,646 12,455 44,414 136,799
Trade and other receivables 323,872 3,960 48,333 55,558 431,723
Intercompany receivables 699,619 66,093 206,304 80,632 1,052,648
1,071,775 101,699 267,092 180,604 1,621,170
Financial liabilities
Borrowings (150,330) (1,355) (230,562) (3,883) (386,130)
Other financial liabilities (105,051) (16,822) (133,445) (6,498) (261,816)
Intercompany payables (699,619) (66,093) (206,304) (80,632) (1,052,648)
(955,000) (84,270) (570,311) (91,013) (1,700,594)
Net financial assets/(liabilities) 116,775 17,429 (303,219) 89,591 (79,424)
Add: Firm commitments and highly
probable forecast transactions
in foreign currencies 254,497 6,111 (90,593) 45,542 215,557
Less: Currency forward contracts (581,934) 6,527 - (36,051) (611,458)
Currency profile (210,662) 30,067 (393,812) 99,082 (475,325)
Financial (assets)/liabilities denominated
in the respective entities’ functional
currencies 16,777 561 392,366 (10,743) 398,961
Currency exposure of financial assets/
(liabilities) net of those denominated
in the respective entities’ functional
currencies (193,885) 30,628 (1,446) 88,339 (76,364)
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