Frontken Berhad Annual Report 2016

115

Frontken Corporation Berhad (651020-T)

ANNUAL REPORT

2016

26. FINANCIAL INSTRUMENTS (CONT’D)

(a) Financial Risk Management Policies (Cont’d)

(i)

Foreign currency risk (Cont’d)

The Group’s exposure to foreign currency is as follows:-

Singapore

Ringgit

United States

Philippine

New Taiwan

Dollar

Malaysia

Dollar

Peso

Dollar

Others*

Total

The Group

2016

Financial assets

Trade receivables

10,338,704 15,996,875 17,795,021

904,898 50,816,601

294,492 96,146,591

Other receivables and deposits

1,647,747

692,346

385,571

590,266 1,199,731

94,925 4,610,586

Amount owing by an associate

1,362,971

Short-term investments

2,243,002 6,753,231

8,996,233

Fixed deposits with licensed banks

474,166 5,397,869

5,872,035

Cash and bank balances

1,989,027 15,269,959 25,330,584 1,915,656 43,381,102

859,184 88,745,512

18,055,617 44,110,280 43,511,176 3,410,820 95,397,434 1,248,601 205,733,928

Financial liabilities

Trade payables

2,220,289 4,036,596 2,841,588

171,449 11,451,094

105,721 20,826,737

Other payables and accrued expenses

3,744,878 4,761,147 1,089,499 1,185,959 44,259,277

520,182 55,560,942

Bank borrowings

- Term loans

6,030,745 4,128,510

- 13,915,000

- 24,074,255

- Short-term borrowings

4,652,400

Hire purchase payables

209,727

393,766

603,493

16,858,039 13,320,019 3,931,087 1,357,408 69,625,371

625,903 105,717,827

Net financial assets

1,197,578 30,790,261 39,580,089 2,053,412 25,772,063

622,698 100,016,101

Less: Net financial liabilities/(assets)

denominated in the respective entities’

functional currencies

745,049 (30,790,261)

(2,053,412)

(25,772,063)

(611,283)

(58,481,970)

Currency exposure

1,942,627

- 39,580,089

11,415 41,534,131

* Denominated in Euro, Great Britain Pound and Indonesian Rupiah.

Notes To The Financial Statements

(cont’d)