Annual Report 2012 - ecoWise Holdings Limited

136ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS32. FINANCIAL INSTRUMENTS: INFORMATION ON FINANCIAL RISKS (CONTINUED)32G. Foreign Currency RiskThe Group has exposure to foreign currency movements on financial assets and financial liabilitiesdenominated in foreign currencies. It also has foreign currency risk on sales and purchases that aredenominated in foreign currencies. The currencies giving rise to this risk is primarily the Australian dollar,Chinese renminbi, United States dollar and Japanese yen. The Group hedges its foreign currency exposureshould the need arise through the use of forward foreign currency contracts.Other than as disclosed elsewhere in the financial statements, the Group’s exposures to foreign currenciesare as follows:AustralianDollarChinese Malaysian SingaporeRenminbi Ringgit DollarUnitedStatesDollarJapaneseYen Euro TotalGroup $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’0002012Financial AssetsCash and cash equivalents 252 1 – 67 699 – 1 1,020Trade and other receivables 5,283 196 4,401 6 4,437 – – 14,323Total financial assets 5,535 197 4,401 73 5,136 – 1 15,343Financial LiabilitiesTrade and other payables 2,569 – – – 3,975 443 668 7,655Loans and borrowings – – – – 2,993 – – 2,993Total financial liabilities 2,569 – – – 6,968 443 668 10,648Net financial assets/(liabilities) 2,966 197 4,401 73 (1,832) (443) (667) 4,6952011Financial AssetsCash and cash equivalents 68 – – – 69 – – 137Trade and other receivables – 197 306 242 3,780 – – 4,525Total financial assets 68 197 306 242 3,849 – – 4,662Financial LiabilitiesTrade and other payables – – – – 114 282 – 396Loans and borrowings – – – – 224 – – 224Total financial liabilities – – – – 338 282 – 620Net financial assets/(liabilities) 68 197 306 242 3,511 (282) – 4,042