Brainworks_Capital_Management_2012_Annual_Report

2012 FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2012
45
Up to 1 2 to 6 7 to 12 Above 12
month months months months Other Total
US$ US$ US$ US$ US$ US$
INTEREST RATE GAP ANALYSIS
As at 31 December 2011
Assets
Cash and cash equivalents 513 153 - - - - 513 153
Financial instruments at fair value - - - - 475 000 475 000
Receivables - - - - 636 812 636 812
Investments in subsidiaries - - - - 505 389 505 389
Investment in associate - - - - 14 923 014 14 923 014
Property and equipment - - - - 70 374 70 374
Deferred taxation - - - - 215 413 215 413
513 153 - - - 16 826 002 17 339 155
Liabilities
Borrowings 620 383 280 383 280 383 4 085 753 - 5 266 902
Other liabilities - - - - 289 727 289 727
Balances due to stockbrokers - - - - 20 161 20 161
Equity - - - - 11 762 365 11 762 365
620 383 280 383 280 383 4 085 753 12 072 253 17 339 155
Sensitivity gap (107 230) (280 383) (280 383) (4 085 753) 4 753 749 -
Cumulative gap (107 230) (387 613) (667 996) (4 753 749) - -
FOREIGN EXCHANGE RISK
Definition
Foreign exchange risk is the risk that arises from adverse changes in foreign exchange rates and emanates
from a mismatch between foreign currency inflows and outflows.
Identification techniques
The risk is identified through the analysis of the Company's open foreign exchange positions.
Measurement methods
The risk is measured through the Company's open foreign exchange positions.
Impact evaluation
The Company has evaluated this risk as low in view of the fact that at present it does not have any open
foreign exchange positions.
Strategies for management/mitigation
The risk is managed through market analysis techniques.
BRAINWORKS CAPITAL MANAGEMENT (PRIVATE) LIMITED
2012 ANNUAL REPORT