DESTINI Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS 42. Financial Instruments (Cont’d) (c) Financial risk management objectives and policies (Cont’d) (iii) Market risks (Cont’d) (a) Foreign currency risk (Cont’d) Exposure to foreign currency risk (Cont’d) The carrying amounts of the Group’s foreign currency denominated financial assets and financial liabilities which have SGD functional currency at the end of the reporting period are as follows: (Cont’d) Currency risk sensitivity analysis Foreign currency risk arises from Group entities mainly have RM and SGD functional currencies. The exposure to currency risk of Group entities other than RM and SGD functional currencies 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, CAD, THB, KYAT and RMB exchange rates against RM as well as in the USD and AED exchange rates against SGD, with all other variables held constant: Denominated in USD EUR RMB SGD RM RM RM RM Group 2018 Trade receivables 8,346,782 - - - Other receivables 210,987 - - - Cash and bank balances 987,230 2,036 - - Trade payables (14,876,549) (2,098,432) - (467,329) Other payables (4,783,291) (493,201) - - Bank borrowings - - (2,105,560) (5,322,924) 06 FINANCIAL STATEMENTS DESTINI BERHAD 194