36. FINANCIAL INSTRUMENTS AND FINANCIAL RISKS (CONTINUED) Market risk (Continued) (ii) Foreign exchange risk management (Continued) At the end of the reporting period, the carrying amounts of monetary assets and monetary liabilities denominated in currencies other than the functional currency of the entities within the Group are as follows: Assets Liabilities 2024 2023 2024 2023 $’000 $’000 $’000 $’000 (Restated) (Restated) United States dollar 120,002 122,646 609 854 Malaysian Ringgit 1 729 – – Maldives rufiyaa 314 482 – – The Group has foreign operations, whose net assets are exposed to currency translation risk. The Group does not currently designate its foreign currency denominated debt as a hedging instrument for the purpose of hedging the translation of its foreign operations. Exposure to foreign currency risk is monitored on an ongoing basis in accordance with the Group’s risk management policies to ensure that the net exposure is at an acceptable level. Foreign currency sensitivity analysis The following table details the sensitivity to a 5% (2023: 5%) increase and decrease in the relevant foreign currencies against the functional currency of the entities within the Group. The 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents the management’s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the end of the reporting period for a 5% (2023: 5%) change in foreign currency rates. The sensitivity analysis includes loans to foreign operations within the Group where they gave rise to an impact to the Group’s profit or loss. If the relevant foreign currency strengthen or weakens by 5% against the functional currency of each group entity, profit or loss will increase/(decrease) by: Profit or loss 2024 2023 $’000 $’000 (Restated) Group United States dollar Strengthens against functional currencies* 6,000 6,132 Weakens against functional currencies* (6,000) (6,132) Malaysian Ringgit Strengthens against functional currencies# – 36 Weakens against functional currencies# – (36) Maldives rufiyaa Strengthens against functional currencies 16 24 Weakens against functional currencies (16) (24) * Primary Singapore dollar and Japanese yen # Primary Singapore dollar 132 KEONG HONG HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
RkJQdWJsaXNoZXIy NTkwNzg=