NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 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 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Group 31 December 2023 Financial assets 16,304 – – 6,732 – – – – – – Trade and other receivables* 269 877 – 39 6,004 4,526 (8) 41 – – Cash and cash equivalents 11,507 989 55 921 12,689 2,906 1,613 239 – – Amounts owing by/(to) subsidiaries (net) 374,440 (30,509) 188,286 108,006 4,698,327 625,725 482,948 (464) 200,818 – Interest-bearing borrowings (917,931) – (19,813) (223,803) (3,269,092) (99,898) (125,587) (63,715) – – Trade and other payables** (2,488) (405) (91) (642) (27,844) (257) (29) – – – Net statement of financial position exposure (517,899) (29,048) 168,437 (108,747) 1,420,084 533,002 358,937 (63,899) 200,818 – Forward exchange contracts – – – – (926,314) (94,650) (237,420) (33,360) – – Cross-currency swaps (37,591) – – – (134,448) (287,188) (31,806) – – – Net exposure (555,490) (29,048) 168,437 (108,747) 359,322 151,164 89,711 (97,259) 200,818 – 31 December 2022 Financial assets 16,410 – – 4,548 – – – – – – Trade and other receivables* 266 865 – 103 2,955 2,928 – 21,839 – – Cash and cash equivalents (net of cash pool overdrafts)^ (176,383) 5,240 165 195 6,730 2,681 1,319 (62,964) 2 – Amounts owing by subsidiaries (net) 369,151 73,544 209,597 125,302 3,913,847 489,210 289,631 10 165,287 8,939 Interest-bearing borrowings (697,248) – (19,208) (139,552) (2,396,571) (146,579) (90,817) – – – Trade and other payables** (1,133) (193) (97) (284) (7,508) (388) (115) – – – Net statement of financial position exposure (488,937) 79,456 190,457 (9,688) 1,519,453 347,852 200,018 (41,115) 165,289 8,939 Forward exchange contracts – – – – (928,587) – – (34,364) – – Cross-currency swaps – – – (49,298) (130,120) (217,082) (109,063) – – – Net exposure (488,937) 79,456 190,457 (58,986) 460,746 130,770 90,955 (75,479) 165,289 8,939 * Excluding prepayments ** Excluding deferred income ^ In 2022, cash pool overdrafts were set off against cash and cash equivalents in the statement of financial position. The presentation has changed in the current year. The cash pool overdrafts are presented as part of interest-bearing borrowings (note 18 and 20). FINANCIALS FINANCIALS ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED 231 230
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