293 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey 43 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED) Market risk (continued) (a) Foreign currency risk (continued) At the reporting date, the Group is mainly exposed to fluctuation in the United States Dollar exchange rate against the respective functional currencies of the Group entities. The Group considers a 5% strengthening or weakening of the United States Dollar as a possible change. A 5% strengthening or weakening of the United States Dollar would result in profit or loss after tax and equity being approximately RM4,785,000 and RM10,000 (2023: RM3,124,000 and RM11,000) higher or lower for the Group and the Company accordingly. The Group and the Company consider that the foreign currency risk attributable to currencies other than the United States Dollar to be insignificant. The Group’s and the Company’s exposure to foreign currency (a currency which is other than the functional currency of the Group entities and the Company) risk, based on carrying amounts as at the end of the reporting period were: Group 31 December 2024 Denominated in USD RM’000 SGD RM’000 QR RM’000 EUR RM’000 IDR RM’000 JPY RM’000 Others RM’000 Total RM’000 Cash and bank balances 64,785 9,134 2,650 3,524 1,390 1,529 1,881 84,893 Trade and other receivables 146,378 6,569 - 8,491 16,354 5,838 3,196 186,826 Amount owing by/(to) joint ventures 9,427 - - - - (5,438) (736) 3,253 Trade and other payables (106,572) (14,444) (50,553) (5,824) (16,359) (2,476) (10,250) (206,478) Loans and borrowings (18,312) (964) - (1,498) - - - (20,774)
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