DESTINI AR 2017

41. Financial Instruments (Cont’d) (b) Financial risk management objectives and policies (Cont’d) (iii) Market risks (Cont’d) (a) Foreign currency risk (Cont’d) The carrying amounts of the Group’s foreign currency denominated financial assets and financial liabilities at the end of the reporting period are as follows: Denominated in USD EUR RMB SGD RM RM RM RM Group 2017 Trade receivables 9,658,014 - - - Other receivables 239,426 - - - Fixed deposits with licensed banks - 2,118,825 - - Cash and bank balances 1,211,444 1,075 - - Trade payables (15,875,812) (1,607,576) - (360,291) Other payables (3,555,868) (210,079) - - Bank borrowings - (10,418,079) (2,173,523) (9,426,757) (8,322,796) (10,115,834) (2,173,523) (9,787,048) 2016 Trade receivables 11,767,883 - - - Other receivables 146,947 - - - Cash and bank balances 1,100,276 487 - - Trade payables (1,766,833) (226,883) - - Other payables (2,189,761) (9,599) - - Bank borrowings - - (2,258,322) (10,572,699) 9,058,512 (235,995) (2,258,322) (10,572,699) Foreign currency sensitivity analysis Foreign currency risk arises from Group entities which have a RM functional currency. The exposure to currency risk of Group entities which do not have a RM functional currency is not material and hence, sensitivity analysis is not presented. The following demonstrates the sensitivity of the Group’s profit after tax to a reasonably possible change in the USD, EUR, SGD and RMB exchange rates against RM, with all other variables held constant. A 5% (2016: 5%) weakening of RM against the above currencies at the end of the reporting period would have had equal but opposite effect on the above currencies to the amounts shown above, on the basis that all other variables remained constant. 168 DESTINI BERHAD Financial Statements Notes to the 31 December 2017