83
Straco Corporation Limited • Annual Report 2014
NOTES TO THE FINANCIAL STATEMENTS
25
Financial risk management (cont’d)
Foreign currency risk
The Group is exposed to sales and purchases, including inter-company sales, purchases and inter-company balances that are denominated in a currency
other than the respective functional currencies of Group entities. The currencies giving rise to foreign currency risk are primarily the Renminbi and US
Dollar. The Group’s and the Company’s exposures to the various currencies are as follows:
Singapore dollar
Renminbi
US dollar
Total
$
$
$
$
Group
2014
Trade and other receivables
–
2,853,357
75
2,853,432
Cash and cash equivalents
–
224
340,537
340,761
Borrowings
–
(7,458,711)
–
(7,458,711)
Trade and other payables
(1,062,570)
(5,539,846)
(132,172)
(6,734,588)
(1,062,570)
(10,144,976)
208,440
(10,999,106)
2013
Trade and other receivables
–
34,859,128
72
34,859,200
Cash and cash equivalents
–
783
682,169
682,952
Trade and other payables
(4,230,827)
(5,284,896)
(126,662)
(9,642,385)
(4,230,827)
29,575,015
555,579
25,899,767
Singapore dollar
Renminbi
US dollar
Total
$
$
$
$
Company
2014
Trade and other receivables
–
12,569
–
12,569
Borrowings
–
(7,458,711)
–
(7,458,711)
Trade and other payables
–
(515,096)
–
(515,096)
–
(7,961,238)
–
(7,961,238)
2013
Trade and other receivables
–
23,590,265
–
23,590,265
Trade and other payables
–
(492,449)
–
(492,449)
–
23,097,816
–
23,097,816
