NOTES TO THE FINANCIAL STATEMENTS Registration No. 200301030845 (633265-K) - 141 - 38. Financial Instruments (Cont’d) (b) Financial risk management objectives and policies (Cont’d) (iii) Market risks (Cont’d) (a) Foreign currency risk (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, GBP, CAD, THB, KYAT and NOK exchange rates against RM as well as in the USD, EUR, GBP, RMB, AED, MYR and AUD exchange rates against SGD, with all other variables held constant: Effect on profit Change in currency rate before tax RM Group 2021 USD/SGD Strengthened 10% 214,054 Weakened 10% (214,054) EUR/SGD Strengthened 10% 24,590 Weakened 10% (24,590) GBP/SGD Strengthened 10% 226,365 Weakened 10% (226,365) RMB/SGD Strengthened 10% (244,521) Weakened 10% 244,521 AED/SGD Strengthened 10% 247,975 Weakened 10% (247,975) MYR/SGD Strengthened 10% (3,777) Weakened 10% 3,777 AUD/SGD Strengthened 10% 29,023 Weakened 10% (29,023) USD/RM Strengthened 10% (685,688) Weakened 10% 685,688 EUR/RM Strengthened 10% (1,138,795) Weakened 10% 1,138,795 218 DESTINI BERHAD • ANNUAL REPORT 2021
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