KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
91
Notes to the Financial Statements
31 December 2014
30.
Financial instruments: information on financial risks (cont’d)
Financial risk management (cont’d)
Foreign currency risk
The Group has exposure to foreign currency movements on financial assets and financial liabilities denominated
in foreign currencies. It also has exposure on sales and purchases that are denominated in foreign currencies. The
currencies giving rise to the foreign currency risk are primarily the SGD, United States Dollar (“USD”), Hong Kong
Dollar (“HKD”), Malaysian Ringgit (“MYR”) and China Renminbi (“RMB”). The Group hedges its foreign currency
exposure should the need arise through the use of forward foreign currency contracts.
Other than as disclosed elsewhere in the financial statements, the Group’s exposures to foreign currencies are as
follows:
SGD USD HKD MYR
RMB Others
Total
Group
$’000 $’000 $’000 $’000 $’000 $’000 $’000
2014
Financial assets
Trade and other receivables
170 2,918
109
431
34
56 3,718
Cash and cash equivalents
1,180 6,563
84
–
243
178 8,248
Total financial assets
1,350 9,481
193
431
277
234 11,966
Financial liabilities
Trade and other payables
1,583
603
502
195
408
353 3,644
Other financial liabilities
–
–
–
–
–
–
–
Total financial liabilities
1,583
603
502
195
408
353 3,644
Net financial (liabilities)/assets
(233)
8,878
(309)
236
(131)
(119)
8,322
2013
Financial assets
Trade and other receivables
202 3,290
238
444
560
514 5,248
Cash and cash equivalents
1,650 5,852
226
–
204
215 8,147
Total financial assets
1,852 9,142
464
444
764
729 13,395
Financial liabilities
Trade and other payables
950 1,021
393
797
187
12 3,360
Other financial liabilities
–
–
–
–
–
–
–
Total financial liabilities
950 1,021
393
797
187
12 3,360
Net financial assets/(liabilities)
902 8,121
71
(353)
577
717 10,035
