CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 FINANCIALS 232 233 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 YEAR ENDED 31 DECEMBER 2021 41 FINANCIAL INSTRUMENTS (CONT’D) (iii) Market risk (cont’d) Foreign currency risk (cont’d) The Group’s and the Company’s exposure to foreign currencies are as follows: United States Dollar Singapore Dollar Hong Kong Dollar Australian Dollar Sterling Pound Renminbi Japanese Yen Euro Thai Baht New Zealand Dollar Others $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Group 31 December 2021 Financial assets 32,680 – – – 7,279 – – – – – – Trade and other receivables* 22,841 773 – 5 1,786 2,633 – 21,068 – – 319 Cash and cash equivalents (net of cash pool overdrafts) (60,436) 1,912 164 38,070 5,157 3,436 47 (67,611) 2 17,370 273 Amounts owing by/(to) subsidiaries (net) 1,284,874 (547,877) 211,158 150,686 3,381,844 547,750 245,387 139,148 169,703 10,168 – Interest-bearing borrowings (1,082,468) – (19,175) (88,015) (2,995,566) (146,800) (54,417) (4,599) – – – Trade and other payables** (1,719) (863) (44) (64) (2,951) (403) (11) – – – (10) Net statement of financial position exposure 195,772 (546,055) 192,103 100,682 397,549 406,616 191,006 88,006 169,705 27,538 582 Forward exchange contracts – – – – (571,093) (603,117) (85,852) (34,493) – – – Cross-currency swaps 157,327 – – – – (347,429) (41,772) (157,327) – – – Net exposure 353,099 (546,055) 192,103 100,682 (173,544) (543,930) 63,382 (103,814) 169,705 27,538 582 31 December 2020 Financial assets 31,149 – – 436 7,205 31,852 – – – – – Trade and other receivables* 244 1,450 – 139 646 2,070 – 50,745 – – 312 Cash and cash equivalents (net of cash pool overdrafts) 51,538 187,805 173 51,321 8,474 38,950 18 479 2 6,863 303 Amounts owing by/(to) subsidiaries (net) 664,017 (803,903) 208,622 145,123 3,739,650 (443,098) 294,739 159,169 182,702 5,888 – Interest-bearing borrowings (1,176,337) – (19,110) (57,930) (3,111,812) (138,932) (89,435) (78,257) – – – Trade and other payables** (1,795) (646) (33) (29) (3,399) (3,966) (75) – – – (13) Net statement of financial position exposure (431,184) (615,294) 189,652 139,060 640,764 (513,124) 205,247 132,136 182,704 12,751 602 Forward exchange contracts (245,643) 12,288 – – (128,089) (856,866) (93,425) – – – – Cross-currency swaps 154,237 – – – (180,130) (162,395) (45,457) (209,042) – – – Net exposure (522,590) (603,006) 189,652 139,060 332,545 (1,532,385) 66,365 (76,906) 182,704 12,751 602 * Excluding prepayments and derivative financial assets ** Excluding deferred income and derivative financial liabilities
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