Singapore Press Holdings annual report 2011 Singapore Press ...

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Notes to the Financial StatementS August 31, 2011 152 Singapore Press Holdings annual report 2011 31. FINANCIAL RISK MANAGEMENT (CONT’D) The policies for managing these risks are summarised below. (a) Market risk (i) Currency risk The currency risk of the Group arises mainly from its operational purchases of raw materials and consumable stores and capital expenditure denominated in currencies other than the functional currency. In addition, currency risk also arises from the Group’s foreign currency investments and from costs incurred by its overseas news bureaus. The Group also has investments in foreign subsidiaries, associates and jointly-controlled entities, whose net assets are exposed to currency translation risk. Where appropriate, the Group enters into foreign exchange forward contracts and cross currency swaps to hedge against its currency risk resulting from anticipated sale and purchase transactions in foreign currencies, its foreign currency denominated investments and net assets of its foreign subsidiaries, associates and jointly-controlled entities. The Group’s currency exposure on its monetary financial assets and liabilities based on the information provided to key management is as follows: 2011 SGD USD CNH Others Total S$’000 S$’000 S$’000 S$’000 S$’000 Financial assets Trade and other receivables 140,069 1,203 - 9,190 150,462 Short-term investments 223,675 5,002 - - 228,677 Cash and cash equivalents 340,023 2,079 39,802 10,610 392,514 703,767 8,284 39,802 19,800 771,653 Financial liabilities Trade and other payables (274,523) (13,191) - (7,288) (295,002) Borrowings (1,109,537) - - (2,431) (1,111,968) (1,384,060) (13,191) - (9,719) (1,406,970) Net financial (liabilities)/assets (680,293) (4,907) 39,802 10,081 (635,317) Less: Net financial liabilities/(assets) denominated in the respective entities’ functional currencies 680,293 - - (3,607) 676,686 Less: Firm commitments in foreign currencies - (616) - (235) (851) Less: Currency forwards - (80,751) (39,980) (261) (120,992) Cross currency swap - (4,809) - - (4,809) Currency exposure - (91,083) (178) 5,978 (85,283)
Notes to the Financial StatementS August 31, 2011 153 31. FINANCIAL RISK MANAGEMENT (CONT’D) (a) Market risk (cont’d) (i) Currency risk (cont’d) 2010 SGD USD Others Total S$’000 S$’000 S$’000 S$’000 Financial assets Trade and other receivables 140,964 674 8,994 150,632 Short-term investments 540,407 7,373 - 547,780 Cash and cash equivalents 390,847 64,414 5,734 460,995 1,072,218 72,461 14,728 1,159,407 Financial liabilities Trade and other payables (266,194) (15,284) (6,802) (288,280) Borrowings (1,427,942) - (2,972) (1,430,914) (1,694,136) (15,284) (9,774) (1,719,194) Net financial (liabilities)/assets (621,918) 57,177 4,954 (559,787) Less: Net financial liabilities/(assets) denominated in the respective entities’ functional currencies 621,918 (48) (4,201) 617,669 Less: Firm commitments in foreign currencies - (5,245) (1,707) (6,952) Less: Currency forwards - (101,530) 774 (100,756) Cross currency swap - (5,419) - (5,419) Currency exposure - (55,065) (180) (55,245)
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BUILDING ON OUR STRENGTHS Singapore
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OUR MISSION To Inform, Educate & En
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STRENGTH in depth Our decades of ex
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STRENGTH in mobility Transcending l
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Group financial HIGHLIGHTS for the
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Businesses and products UNDER THE S
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15 I am pleased to report that the
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17 SPH is proud to have been honour
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19 Dr Tan is a Singapore Government
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21 Ms Chong, a licensed valuer, gra
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Corporate INFORMATION 23 Executive
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25 Tony Mallek Han Fook Kwang Goh S
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27 Han Fook Kwang Editor, The Strai
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29 Sng Ngoi May Executive Director,
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31 Despite an uncertain economic cl
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34 Singapore Press Holdings annual
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39 Paragon Food & Beverage Fair 201
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41 DECEMBER 2010 Paragon’s Interi
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43 15 MAY 2011 Shape Singapore laun
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45 SPH & SPH Foundation Charity Giv
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47 President’s Challenge - “Tho
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Corporate social responsibility - S
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Environmental SUSTAINABILITY 51 SPH
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53 SPH Family Day Yoga class for st
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55 Singapore HR Awards 2011 Preside
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57 Asian Publishing Awards 2011 17.
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59 Board attendance The Board meets
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61 Access to information Principle
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63 Remuneration of Executives The B
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65 A webcast of the half-year and f
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67 Mr Willie Cheng Jue Hiang Curren
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Risk MANAGEMENT 69 SPH has put in p
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Daily average NEWSPAPERS CIRCULATIO
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73 After-Tax Profit (S$’m) Return
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Value added STATEMENT for the finan
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77 Investor Relations Calendar 1st
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79 Recurring Earnings @ and Dividen
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Directors’ Report for the financi
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Consolidated Income Statement for t
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Consolidated Statement of Changes i
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Notes to the Financial StatementS A
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Notes to the Financial StatementS A
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