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EC World Real Estate Investment Trust ANNUAL REPORT 2016
NOTES TO THE
Financial Statements
For the Financial Year ended 31 December 2016
23. Financial risk management (continued)
(a) Market risk (continued)
(i)
Currency risk (continued)
The Group’s currency exposure based on the information provided to key management is as follows:
SGD
RMB
Other
Total
S$’000
S$’000
S$’000
S$’000
Group
As at 31 December 2016
Financial assets
Cash and cash equivalents
11,165
92,493
7
103,665
Trade and other receivables
1,061
36,188
–
37,249
Derivative financial instruments
417
–
–
417
Financial assets, at fair value through profit
or loss
–
7,700
–
7,700
Total financial assets
12,643
136,381
7
149,031
Financial liabilities
Trade and other payables
(4,153)
(71,082)
(7)
(75,242)
Borrowings
(194,855)
(203,975)
–
(398,830)
Derivative financial instruments
(387)
–
–
(387)
Total financial liabilities
(199,395)
(275,057)
(7)
(474,459)
Net financial liabilities
(186,752)
(138,676)
–
(325,428)
Less: Net financial liabilities
denominated in the respective entities'
functional currency
186,752 138,676
–
325,428
Currency swaps
–
18,000
–
18,000
Net currency exposure
–
18,000
–
18,000
As at 31 December 2015
Financial assets
Cash and cash equivalents
55
15,970
7
16,032
Trade and other receivables
–
167,866
–
167,866
Total financial assets
55
183,836
7
183,898
Financial liabilities
Trade and other payables
(255)
(403,333)
(7)
(403,595)
Borrowings
–
(267,140)
–
(267,140)
Total financial liabilities
(255)
(670,473)
(7)
(670,735)
Net financial liabilities
(200)
(486,637)
–
(486,837)
Less: Net financial liabilities
denominated in the respective entities’
functional currency
200
187,212
–
187,412
Net currency exposure
–
(299,425)
–
(299,425)