Frontken Berhad Annual Report 2020

Annual Report 2020 125 FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) Notes to the Financial Statements (cont’d) 28. FINANCIAL INSTRUMENTS (CONT’D) (a) Financial Risk Management Policies (Cont’d) (i) Foreign currency risk (Cont’d) Singapore Ringgit United States Dollar Malaysia Dollar Total The Company RM RM RM RM 2020 Financial assets Amount owing by subsidiaries 21,509,798 7,279,000 – 28,788,798 Cash and bank balances – 802,471 6,031,554 6,834,025 21,509,798 8,081,471 6,031,554 35,622,823 Less: Net financial assets denominated in the entity’s functional currency – (8,081,471) – (8,081,471) Currency exposure 21,509,798 – 6,031,554 27,541,352 Ringgit United States Malaysia Dollar Total The Company RM RM RM 2019 Financial assets Short-term investments 7,159,295 2,060,347 9,219,642 Cash and bank balances 1,933,175 369,087 2,302,262 9,092,470 2,429,434 11,521,904 Financial liability Amount owing to subsidiaries – 3,431,325 3,431,325 Net financial assets/(liability) 9,092,470 (1,001,891) 8,090,579 Less: Net financial assets denominated in the entity’s functional currency (9,092,470) – (9,092,470) Currency exposure – (1,001,891) (1,001,891)