68
Notes to Financial Statements
December 31, 2014
December 31,
2014
December 31,
2013
December 31,
2014
December 31,
2013
$’000
$’000
$’000
$’000
United States dollar
37,429
11,366
3,595
7,803
Hong Kong dollar
1,723
10,179
-
-
Indonesian rupiah
-
741
-
-
European euro
20,037
2,733
128
223
Swiss franc
4,142
1,682
-
-
Sterling pound
4,321
1,456
-
-
Australian dollar
100
23
141
1,094
Swedish krona
1,806
-
-
-
ASSETS
LIABILITIES
4. Financial Instruments, Financial Risks and Capital Assets
Management (cont’d)
(b) Financial risk management policies and objectives (cont’d)
(i) Foreign exchange risk management
The Group transacts its business in various foreign currencies, mainly the United States dollar, Hong Kong dollar,
Indonesian rupiah, Sterling pound, European euro, Swiss franc, Australian dollar and Swedish Krona and therefore is
exposed to foreign exchange risk.
The currency risk of the Group arises mainly from the Group’s foreign currency denominated investments. In addition,
currency risk also arises from its operational purchases of goods for sales, consumables and capital expenditure
denominated in currencies other than the functional currency.
Where appropriate, the Group enters into foreign exchange forward contracts to hedge against its currency risk resulting
from anticipated transactions in foreign currencies and its foreign currency denominated investments. No foreign
exchange contracts are entered for speculative purposes.
At the end of the reporting period, the carrying amounts of significant monetary assets and monetary liabilities
denominated in currencies other than the respective Group entities’ functional currencies are as follows:
GROUP and CO-OPERATIVE
