Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 158 20 AMOUNTS OWING BY/(TO) JOINT VENTURES (CONTINUED) (a) Amounts owing by joint ventures (continued) The Company’s amount owing by a joint venture is non-trade in nature, unsecured, interest free and recoverable on demand. As at 31 December 2017 and 31 December 2016, the Company has no exposure to foreign currency risk for the amounts owing by a joint venture. (b) Amounts owing to joint ventures Group 2017 RM’000 2016 RM’000 Advance 3,198 2,977 Non-trade account 116 - 3,314 2,977 The Group’s amounts owing by joint ventures exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk, based on carrying amounts as at the end of the financial year, were: Group 2017 RM’000 2016 RM’000 - Japanese Yen 3,198 2,977 - United States Dollar 20 - - China Renminbi 96 - 3,314 2,977 Advance and non-trade accounts are unsecured, interest free and repayable on demand.