258 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 (cont’d) (a) Foreign currency risk (cont’d) Foreign currency sensitivity analysis (cont’d) The following table demonstrates the sensitivity of the Group’s and of the Company’s profit before tax for the financial year to reasonably possible change in the AUD, USD, SGD, PHP, IDR and CNY exchange rates against RM, which all other variables held constant. (cont’d) 2024 2023 RM’000 RM’000 Company Effects on profit after tax: AUD/RM Strengthened by 1% (2023: 1%) (1,093) (668) Weakened by 1% (2023: 1%) 1,093 668 SGD/RM Strengthened by 1% (2023: 1%) # # Weakened by 1% (2023: 1%) (#) (#) USD/RM Strengthened by 1% (2023: 1%) # - Weakened by 1% (2023: 1%) (#) - # - represents amount less than RM1,000 Material accounting policy information Transactions in foreign currencies are translated to the respective functional currencies of the Group and of the Company at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at financial year end are retranslated to the functional currency at the exchange rate at that date. Non-monetary assets and liabilities denominated in foreign currencies are not retranslated at the end of the reporting date, except for those that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that the fair value was determined. Foreign currency differences arising on retranslation are recognised in the profit or loss, except for differences arising on the retranslation of equity instruments where they are measured at FVTOCI. In the consolidated financial statements, when settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely to occur in the foreseeable future, foreign exchange gains and losses arising from such a monetary item are considered to form part of a net investment in a foreign operation and are recognised in other comprehensive income, and are presented in the foreign currency translation reserve in equity.
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