Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 140 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 28. FINANCIAL INSTRUMENTS (CONT’D) (a) Financial Risk Management Policies (Cont’d) Market Risk (Cont’d) (i) Foreign currency risk (Cont’d) The exposure to foreign currency risk is as follows: Singapore Ringgit United States Philippine New Taiwan Dollar Malaysia Dollar Peso Dollar Others* Total The Group RM RM RM RM RM RM RM \2023 Financial assets Trade receivables 12,229,026 16,109,753 13,897,624 12,585,889 64,152,678 - 118,974,970 Other receivables - 34,285 - 344,452 1,701,878 49,000 2,129,615 Fixed deposits with licensed banks 539,575 - 4,458,381 - 65,842,182 - 70,840,138 Cash and bank balances 38,015,181 9,949,032 71,555,003 1,679,529 194,448,868 525,065 316,172,678 50,783,782 26,093,070 89,911,008 14,609,870 326,145,606 574,065 508,117,401 Financial liabilities Trade payables 3,898,767 3,400,223 4,227,937 384,504 11,007,610 70,337 22,989,378 Other payables and accrued expenses 4,999,431 14,081,271 27,719 105,152 72,518,981 7,652 91,740,206 8,898,198 17,481,494 4,255,656 489,656 83,526,591 77,989 114,729,584 Net financial assets 41,885,584 8,611,576 85,655,352 14,120,214 242,619,015 496,076 393,387,817 Less: Net financial assets denominated in the respective entities’ functional currencies (10,983,058) (8,611,576) - (14,120,214) (242,619,015) (564,677) (276,898,540) Currency exposure 30,902,526 - 85,655,352 - - (68,601) 116,489,277 * Denominated in Euro, Great Britain Pound, Indonesian Rupiah and Chinese Renminbi.
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