118
STAMFORD LAND CORPORATION LTD
Notes to Financial Statements
32
FINANCIAL RISK MANAGEMENT (CONT’D)
(a)
Foreign currency risk (cont’d)
The Group has significant investments in subsidiaries in Australia and New Zealand and is
exposed to currency translation risk. A summary of the Group’s exposure to significant foreign
currency risk as reported to the management of the Group is as follows:
THE GROUP
Australian
Dollars
New Zealand
Dollars
Total
$’000
$’000
$’000
2016
Trade and other receivables
7,499
1,232
8,731
$BTI BOE DBTI FRVJWBMFOUT
97,423
32,544 129,967
Borrowings
(317,442)
(22,910)
(340,352)
Trade and other payables
(32,205)
(1,733)
(33,938)
(244,725)
9,133 (235,592)
Less: Net financial liabilities denominated
in the respective entities’
functional currencies
276,471
22,175 298,646
Net currency exposure
31,746
31,308
63,054
2015
Trade and other receivables
6,843
1,238
8,081
$BTI BOE DBTI FRVJWBMFOUT
78,485
21,783 100,268
Borrowings
(281,173)
(25,283)
(306,456)
Trade and other payables
(11,227)
(1,300)
(12,527)
(207,072)
(3,562)
(210,634)
Less: Net financial liabilities denominated
in the respective entities’
functional currencies
257,988
25,169 283,157
Net currency exposure
50,916
21,607
72,523
If the AustralianDollars (“AUD”) andNewZealandDollars (“NZD”) change against Singapore Dollars
by 5% (2015: 5%) with all other variables held constant, the net currency position on the Group’s
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