Annual Report
2015
|
DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
129
32. Financial instruments (cont’d)
32.3 Financial risk management (cont’d)
(c) Market risk
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest
rates and other prices will affect the Group’s financial position or cash flows.
(i) Currency risk
The Group is exposed to foreign currency risk on purchases that are denominated in a
currency other than the respective functional currencies of group entities. The currencies
giving rise to this risk are primarily Singapore Dollar (SGD), United States Dollar (USD) and
Ringgit Malaysia (MYR).
Exposure to foreign currency risk
The Group’s exposure to foreign currency risk attributable to currencies other than the
functional currencies of group entities, based on the carrying amounts as at the end of the
reporting period was:
Denominated in
USD
SGD
MYR
Group
RM
RM
RM
2015
Financial assets
Trade and other receivables
246,234
349,513
260
Deposits and prepayments
-
-
2,080
Cash and cash equivalents
4,557,491
71,355
-
Intra-group balances
-
-
60,674,428
4,803,725
420,868 60,676,768
Financial liabilities
Trade and other payable
(1,216,128) (5,359,994)
-
Intra-group balances
(42,118,333) (69,306,989)
-
(43,334,461) (74,669,983)
-
Net currency exposure
(38,530,736) (74,246,115) 60,676,768
2014
Financial liabilities
Trade and other payables
(607,660)
(155,322)
-
Notes to the
Financial Statements
(cont’d)
