200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 33. (c) (d) 2023 2022 RM RM Increase/(Decrease) in profit/(loss) after tax SGD/RM - strengthened 7% (2022: 8%) 4,723,305 3,477,422 - weakened 7% (2022: 8%) (4,723,305) (3,477,422) USD/RM - strengthened 9% (2022: 11%) (29,346) (53,244) - weakened 9% (2022: 11%) 29,346 53,244 EUR/RM - strengthened 10% (2022: 4%) 10,011 499 - weakened 10% (2022: 4%) (10,011) (499) The following table demonstrates the sensitivity of the Group’s profit/(loss) net of tax to a reasonably possible change in the SGD, USD and EUR exchange rates against RM, with all other variables held constant. Group During the financial year, if interest rates had been 26 (2022: 93) basis points lower/higher, with all other variables held constant, the Group's net profit after tax would have increased/decreased by RM429,000 (2022: RM1,184,000) during the year. The assumed movement in basis points for interest rate sensitivity analysis was based on the prior year observable market environment. Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group has transactional currency exposures arising from sales or purchases that are denominated in a currency other than RM, the functional currency of the Group's entities. The foreign currency in which these transactions are denominated is Singapore Dollar (“SGD”), United States Dollar (“USD”) and Euro (“EUR”). The Group did not enter into any forward currency contracts during the financial years ended 31 December 2023 and 2022. Sensitivity analysis for foreign currency risk Foreign currency risk Sensitivity analysis for interest rate risk Interest rate risk (cont'd) Financial risk management objectives and policies (cont'd) - 81 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 151 Annual Report 2023
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