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Notes to the Financial Statementfor the financial year ended 31st March, 2009USD Rs. USD Rs.2009 2009 2008 2008The Company’s significant current exposure is to Singapore Dollars, which is as follows:Financial AssetsCash & Cash equivalents 71,304 3,312,071 200,454 8,044,219Trade Receivables 115,060 5,344,537 217,158 8,714,551Other Receivables 2,347 109,018 292,679 11,745,208188,711 8,765,626 710,291 28,503,978Financial LiabilitiesTrade Payables - - (178,536) (7,164,650)Other Payables (1,302) (60,478) (36,937) (1,482,282)(1,302) (60,478) (215,473) (8,646,931)Currency Exposure 187,409 8,705,148 494,818 19,857,046At 31 March 2009, if an estimated 5% (2008: 5%) currency fluctuation in Singapore dollars against United States dollars with all othervariables including tax rate being held constant, the company’s profit after tax for the financial year would have been higher/lower byapproximately US$9,400 (2008: US$24,800) as a result of currency translation gains/losses on the remaining Singapore dollars denominatedfinancial assets and liabilities.(c) Credit RiskThe carrying amounts of trade and other receivables represent the company’s maximum exposure to credit risk. The company hasno significant concentrations of credit risk with any single debtor.The credit risk for trade receivables is as follows:By Geographical AreaIndia 36,147 1,679,028 141,575 5,681,405Myanmar 859,313 39,915,089 9,609,077 385,612,260895,460 41,594,117 9,750,652 391,293,665The ageing analysis for the trade receivables of the company as at year end is as follows:Due less than 30 days 750,266 34,849,856 386,948 15,528,223Due from 30 days to 90 days 129,322 6,007,007 7,171,407 287,788,563Due more than 90 days 15,872 737,254 2,192,297 87,976,879895,460 41,594,117 9,750,652 391,293,665(d) Capital RiskThe objectives when managing capital are: to safeguard the company’s ability to continue as a going concern, so that it can continueto provide returns for shareholders and benefits for other stakeholders, and to provide an adequate return to shareholders by pricingproducts and services commensurately with the level of risk. The management sets the amount of capital in proportion to risk. Themanagement manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the riskcharacteristics of the underlying assets. The board of director’s monitors its capital based on net debt and total capital. Net debt iscalculated as trade payables, other payables and loan less cash and bank balances. Total capital is calculated as equity plus netdebt.Net Debt 2,549,483 118,423,485 (24,802,818) (995,337,086)Total Equity 7,967,348 370,083,315 6,354,583 255,009,416Total Capital 10,516,831 488,506,800 (18,448,235) (740,327,671)The company is not subject to externally imposed capital requirements.(e) Interest Rate RiskThe company is exposed to interest rate risk arising from fixed deposits and fixed interest rate borrowings from related company asdisclosed in Note 6 and Note 11.(f) Fair ValuesThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables approximate their fairvalues due to their short-term nature.