Financial Statements - Mewah Group
Financial Statements - Mewah Group
Financial Statements - Mewah Group
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MEWAH INTERNATIONAL INC.<br />
ANNUAL REPORT 2011<br />
Notes to the <strong>Financial</strong> <strong>Statements</strong><br />
For the financial year ended 31 December 2011<br />
32. <strong>Financial</strong> risk management (continued)<br />
(a)<br />
Market risk (continued)<br />
(i)<br />
Currency risk (continued)<br />
The Company’s currency exposure based on the information provided to key management was as follows:<br />
(continued)<br />
USD SGD Ringgit Total<br />
US$’000 US$’000 US$’000 US$’000<br />
At 31 December 2011<br />
<strong>Financial</strong> assets<br />
Cash and cash equivalents 13,008 28,074 - 41,082<br />
Intercompany receivables 90,686 63,747 - 154,433<br />
103,694 91,821 - 195,515<br />
<strong>Financial</strong> liabilities<br />
Other financial liabilities (33) (117) (48) (198)<br />
Intercompany payables (5) - - (5)<br />
(38) (117) (48) (203)<br />
Net financial assets/(liabilities) 103,656 91,704 (48) 195,312<br />
Less: Currency forward contracts - 1,959 - 1,959<br />
Currency profile 103,656 93,663 (48) 197,271<br />
<strong>Financial</strong> (assets)/liabilities denominated in the Company’s<br />
functional currency (103,656) - - (103,656)<br />
Currency exposure of financial assets/(liabilities)<br />
net of those denominated in the Company’s<br />
functional currency - 93,663 (48) 93,615<br />
104
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