MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 230 NOTES TO THE FINANCIAL STATEMENTS ʹˢ˥ ˧˛˘ Ѓˡ˔ˡ˖˜˔˟ ˬ˘˔˥ ˘ˡ˗˘˗ ʦʤ ʷ˘˖˘ˠ˕˘˥ ʥʣʥʤ (CONT’D) 48. FINANCIAL INSTRUMENTS The Group’s activities are exposed to a variety of market risk (including foreign currency risk, interest rate risk and equity price risk), credit risk and liquidity risk. The Group’s overall financial risk management policy focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group’s financial performance. 48.1 FINANCIAL RISK MANAGEMENT POLICIES The Group’s policies in respect of the major areas of treasury activity are as follows:- (a) Market Risk (i) Foreign Currency Risk The Group is exposed to foreign currency risk on transactions and balances that are denominated in currencies other than the respective functional currencies of entities within the Group. The currencies giving rise to this risk are primarily Indonesian Rupiah (“IDR”), Singapore Dollar (“SGD”), United States Dollar (“USD”) and Philippine Peso (“PHP”) and foreign currency risk is monitored closely on an ongoing basis to ensure that the net exposure is at an acceptable level. The Group’s exposure to foreign currency risk (a currency which is other than the functional currency of the entities within the Group) based on the carrying amounts of the financial instruments at the end of the reporting period is summarised below:- Foreign Currency Exposure United States Dollar Singapore Dollar Others Ringgit Malaysia Total RM’000 RM’000 RM’000 RM’000 RM’000 The Group 2021 Financial Assets Other investments - - - 246,493 246,493 Financing receivables - - - 319,277 319,277 Trade receivables * - - - 289,625 289,625 Other receivables - - 11 35,580 35,591 Amount owing by associates - - - 28 28 Amount owing by joint ventures - - 2,508 2 2,510 Fixed deposits with licensed banks - - - 16,165 16,165 Cash and bank balances 30 129 152 72,803 73,114 30 129 2,671 979,973 982,803 * - The trade receivables exclude accrued income.
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