FINANCIAL STATEMENTS - Mewah Group
FINANCIAL STATEMENTS - Mewah Group
FINANCIAL STATEMENTS - Mewah Group
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MEWAH INTERNATIONAL INC.NOTES TOTHE <strong>FINANCIAL</strong> <strong>STATEMENTS</strong>For the financial year ended 31 December 201232. <strong>FINANCIAL</strong> RISK MANAGEMENT (CONTINUED)(e) Fair value measurements (continued)Level 1 Level 2 Level 3 TotalUS$’000 US$’000 US$’000 US$’000<strong>Group</strong>2012Financial AssetsDerivative financial instruments (Note 16)- Currency forward contracts - 6,968 - 6,968- Commodities futures contracts 9,532 - - 9,532- Commodities forward contracts - 85,531 - 85,531As at 31 December 2012 9,532 92,499 - 102,031Financial LiabilitiesDerivative financial instruments (Note 16)- Currency forward contracts - 2,647 - 2,647- Commodities futures contracts 13,050 - - 13,050- Commodities forward contracts - 40,402 - 40,402As at 31 December 2012 13,050 43,049 - 56,0992011Financial AssetsDerivative financial instruments (Note 16)- Currency forward contracts - 2,582 - 2,582- Commodities futures contracts 6,544 - - 6,544- Commodities forward contracts - 29,806 - 29,806As at 31 December 2011 6,544 32,388 - 38,932Financial LiabilitiesDerivative financial instruments (Note 16)- Currency forward contracts - 8,700 - 8,700- Commodities futures contracts 9,730 - - 9,730- Commodities forward contracts - 23,887 - 23,887- Put option - - 1,260 1,260As at 31 December 2011 9,730 32,587 1,260 43,577104