221 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD Registration No: 199301009307 (264044-M) 83 31. FINANCIAL INSTRUMENTS (CONT’D) 31.2 Financial risk management objectives and policies (cont’d) Financial risk (cont’d) The main areas of financial risks faced by the Group and the Company and the policy in respect of the major areas of treasury activity are set out as follows (cont’d):- (d) Foreign currency risk (cont’d) The Group’s exposure to foreign currency risk, based on carrying amounts as at the end of reporting period was (cont’d):- USD SGD JPY RM’000 RM’000 RM’000 2022 Trade receivables 1,516 5,868 418 Other receivables - 2,393 - Trade payables (10,336) (1,768) (645) Other payables - (5,056) - Cash and bank balances 228 11,234 10 (8,592) 12,671 (217) The following table demonstrates the sensitivity of the Group’s profit for the financial year to a reasonably possible change in the USD, SGD, IDR and JPY exchange rates against the respective functional currencies of the Group entities, with all other variables held constant. * Amount is negligible Profit, net of tax/Equity 2023 2022 RM’000 RM’000 USD/RM - strengthened 0.34%/0.41% (7) (27) - weakened 0.34%/0.41% 7 27 SGD/RM - strengthened 0.50%/0.48% 59 46 - weakened 0.50%/0.48% (59) (46) JPY/RM - strengthened 0.24%/0.73% -* 1 - weakened 0.24%0.73% (-)* (1) IDR/RM - strengthened 0.44%/Nil% 10 - - weakened 0.44%/Nil% (10) -
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