SEO Version
74
Notes to the Financial Statements
30 April 2013
(In Singapore dollars)
19.
Derivatives
Group
2013
Fair value
2012
Fair value
Note Assets
Liabilities
Assets
Liabilities
$’000
$’000
$’000
$’000
Non-hedging instrument
- Forward currency contracts
(a)
55
(79)
175
(50)
- Interest rate swap
(b)
–
(64)
–
(7)
55
(143)
175
(57)
Company
2013
Fair value
2012
Fair value
Note Assets
Liabilities
Assets
Liabilities
$’000
$’000
$’000
$’000
Non-hedging instrument
- Forward currency contracts
(a)
6
–
44
–
(a)
Foreign exchange forward contracts
The Group and the Company use foreign currency contracts to manage the risk against currency
fluctuations in connection with payments to overseas suppliers and receipts from overseas customers. The
contractual amounts to be paid or received and contractual exchange rates of the outstanding contracts at
the end of each reporting period are as follows:
Group
contractual/notional
amounts
2013
2012
$’000
$’000
To sell Singapore Dollars for:
- United States Dollars
1,691
4,759
- Euro
326
1,012
2,017
5,771
To sell South African Rand for
- Singapore Dollars
209
3,686
- United States Dollars
90
854
299
4,540
To sell Thai Baht for United States Dollars
3,662
1,516
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