255 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʧ (cont’d) 45. FINANCIAL INSTRUMENTS (CONT’D) (b) Financial risk management objectives and policies (cont’d) (iii) Market risk (a) Foreign currency risk The Group and the Company are exposed to foreign currency risk on transactions that are denominated in currencies other than the respective functional currencies of the Group entities. The currencies giving rise to this risk are primarily AUD, USD, SGD, PHP, IDR and CNY. The Group and the Company have not entered into any derivative instruments for hedging or trading purposes. Where possible, the Group and the Company would apply natural hedging by selling and purchasing in the same currency. However, the exposure to foreign currency risk is monitored from time to time by management to ensure that the net exposure is at an acceptable level. The carrying amounts of the Group’s and of the Company’s foreign currency denominated financial assets and financial liabilities at the end of the reporting periods are as follows: AUD USD SGD PHP IDR CNY Total RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Group 2024 Financial assets Amount due from joint ventures - - - 2,509 - - 2,509 Short-term investments and stablecoin - 59,532 - - - - 59,532 Cash and bank balances 7,091 1,277 4 - 4 - 8,376 7,091 60,809 4 2,509 4 - 70,417 Financial liabilities Trade payables - (153) - - - - (153) Other payables - (#) - - - - (#) Term loans (116,395) - - - - - (116,395) (116,395) (153) - - - - (116,548) Net financial assets (109,304) 60,656 4 2,509 4 - (46,131)
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