151 ANNUAL REPORT 2024 Notes to The Financial Statements 31 December 2024 29. Financial instruments: information on financial risks and other explanatory information (cont’d) 29G. Foreign currency risk (cont’d) The Group’s currency exposure is as follows (cont’d): Group Exposure in SGD USD GBP RM Others Total 2023 $’000 $’000 $’000 $’000 $’000 $’000 Financial assets Cash and bank balances 3,045 2,732 62 1,859 5,932 13,630 Trade and other receivables # 6,004 20,148 3,111 3,255 10,975 43,493 Subtotal 9,049 22,880 3,173 5,114 16,907 57,123 Financial liabilities Trade and other payables # 7,321 18,785 2,075 626 5,661 34,468 Borrowings 9,492 14,572 1,697 – 2,728 28,489 Lease liabilities 2,596 – 107 5 190 2,898 Subtotal 19,409 33,357 3,879 631 8,579 65,855 Net financial (liabilities)/assets (10,360) (10,477) (706) 4,483 8,328 (8,732) Less: Net financial liabilities/(assets) denominated in respective entities’ functional currencies 9,589 600 388 (4,483) (4,805) 1,289 Add: Currency forward contracts – 1,601 – – 852 2,453 Net currency exposure (771) (8,276) (318) – 4,375 (4,990) # The amount is before elimination of intragroup balances The Company’s currency exposure is as follows: Company Exposure in USD Others Total 2024 $’000 $’000 $’000 Financial assets Cash and bank balances 587 2 589 Trade and other receivables 12,397 2,421 14,818 Subtotal 12,984 2,423 15,407 Financial liabilities Trade and other payables 3,224 249 3,473 Borrowings 12,559 1,248 13,807 Subtotal 15,783 1,497 17,280 Net financial (liabilities)/assets (2,799) 926 (1,873) Add : Currency forward contracts 272 – 272 Net currency exposure (2,527) 926 (1,601)
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