192 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
33 FINANCIAL RISK MANAGEMENT
(cont’d)
(b) Market risk
(cont’d)
(ii) Foreign currency risk
(cont’d)
In relation to its investments in foreign subsidiaries whose net assets are exposed to currency translation
risks and which are held for long term investment purposes, the differences arising from such translation
are recorded under the foreign currency translation reserve. These translation differences are reviewed
and monitored on a regular basis.
The Group’s and the Company’s exposure to foreign currencies as at 31 December 2014 and
31 December 2013 were as follows
US
Dollars
$’000
Australian
Dollars
$’000
Chinese
Renminbi
$’000
Hong
Kong
Dollars
$’000
Japanese
Yen
$’000
Euro
$’000
Malaysian
Ringgit
$’000
Others
#
$’000
Total
Foreign
Currencies
$’000
The Group
2014
Other mnancial assets
–
–
–
1,510
192,096
–
–
–
193,606
Trade and other
receivables
72,478
17,752
358,569
6,539
140,881 184,197
86,600 174,560 1,041,576
Cash and cash
equivalents
168,432
5,216 1,099,437
2,928
140,852
55,158
84,921 103,786 1,660,730
Borrowings
(674,599)
(1,450) (1,128,249) (157,041) (1,234,537) (396,985) (452,637) (350,921) (4,396,419)
Trade and other
payables
(340,460) (12,174) (1,544,117) (16,038)
(51,759) (83,299) (75,675) (75,805) (2,199,327)
Gross currency
exposure
(774,149)
9,344 (1,214,360) (162,102) (812,467) (240,929) (356,791) (148,380) (3,699,834)
Add/Less
Net mnancial
liabilities/(assets)
denominated in the
respective entities’
functional currencies
90,274
(4,315) 1,191,011 155,830
624,461 401,577 436,905 244,825 3,140,568
Cross currency swaps/
forward foreign
exchange contracts
495,183
–
–
–
179,952
–
375
–
675,510
Less
Available-for-sale
mnancial assets
–
–
–
(1,510)
–
–
–
–
(1,510)
Net currency exposure
(188,692)
5,029
(23,349) (7,782)
(8,054) 160,648
80,489
96,445
114,734
#
Others include mainly United Arab Emirates Dirham, Sterling Pound, Thai Baht, Indian Rupee and Vietnamese Dong.
