曝光臺(tái) 注意防騙 網(wǎng)曝天貓店富美金盛家居專營店坑蒙拐騙欺詐消費(fèi)者

36 FINANCIAL RISK MANAGEMENT POLICIES SCONT’DT
(c) Foreign currency risk
The Group has subsidiaries and associates operating in foreign countries which generate revenue and incur costs
denominated in foreign currencies. The main currency exposures of the Group and Company are primarily USD,
Thai Baht and Indonesian Rupiah. The Group has a natural hedge to the extent that payments for foreign
currency payables are matched against receivables denominated in the same foreign currency or whenever
possible by intragroup arrangements and settlements.
The Company enters into forward foreign currency exchange contracts to limit its exposure on foreign currency
receivables and payables. At 30 June 2007, the settlement dates on open forward contracts are in accordance
with the loan instalment repayment dates (2006: between 1 and 8 months). The foreign currency amounts to be
received and contractual exchange rates of the Company’s outstanding contracts were as follows:
Currency Currency
to be to be RM’000 Contractual
Hedge item received paid equivalent rate
As at 30 June 2007 USD MYR 2,963,341 3.183-3.369
The net unrecognised and unrealised losses at 30 June 2007 on open contracts which hedge future payments on
term loans amounted to RM141.8 million (2006: RM2.0 million). These exchange losses are deferred until the
related payments are transacted, at which time they are included in the measurement of such transactions.
(d) Credit risk
The Group’s exposure to credit risks or the risk of counterparties defaulting arises mainly from various deposits
and bank balances, receivables and derivative financial instruments. The maximum exposure to credit risks is
represented by the total carrying amount of these financial assets in the balance sheet.
Credit risks, or the risk of counterparties defaulting, are controlled by the application of credit approvals, limits and
monitoring procedures. Credit risks are minimised by monitoring receivables regularly. In addition, credit risks is
also controlled as the majority of the Group’s deposits and bank balances and derivative financial instruments are
placed or transacted with major financial institutions and reputable parties. The Directors are of the view that the
possibility of non-performance by these financial institutions is remote on the basis of their financial strength
The Group generally has no concentration of credit risk except for debt owing by 2 customers which constitutes
approximately 26.3% (2006: 23.6%) of the outstanding trade receivables at the end of 30 June 2007. The Directors
are however of the opinion that adequate provision has been made for any uncollectible amounts.
(e) Market risk
The Group has investments which are subject to market risk as the market values of these investments are
affected by changes in market prices. The Group seeks to manage its exposure to market risk by maintaining a
portfolio with different risk profiles.
(f) Liquidity and cash flow risks
The Group’s policy on liquidity risk management is to maintain sufficient cash and have available funding through
adequate amounts of committed credit facilities and credit lines for working capital requirements.
140 > AIRASIA BERHAD > annual report 2007
37 FAIR VALUES OF FINANCIAL INSTRUMENTS FOR DISCLOSURE PURPOSES
On balance sheet financial instruments
The fair value of a financial instrument is assumed to be the amount at which the instrument could be exchanged or
settled between knowledgeable and willing parties in an arm’s length transaction.
Quoted market prices, when available, are used as a measure of fair values. However, for a significant portion of the
Group’s and Company’s financial instruments, quoted market prices do not exist. For such financial instruments, fair
values presented are estimates derived using the net present value or other valuation techniques. These techniques
involve uncertainties and are significantly affected by the assumptions used and judgements made regarding risk
characteristics of various financial instruments, discount rates, estimates of future cash flows and other factors. Changes
in assumptions could significantly affect these estimates and the resulting fair values.
The carrying values of financial assets and financial liabilities of the Group and Company at the balance sheet date
approximated their fair values, except as set out below:
2007 2006
Carrying Carrying
amount Fair value amount Fair value
RM’000 RM’000 RM’000 RM’000
Group
Borrowings (non-current portion) 2,303,488 2,280,002 787,276 774,164
Hire-purchase payables (non-current portion) 188 177 288 266
Company
Borrowings (non-current portion) 2,303,488 2,280,002 787,276 774,164
　
中國航空網(wǎng) m.k6050.com
航空翻譯 www.aviation.cn
本文鏈接地址：AirAsia Berhad annual report 2007 FINANCIAL STATEMENTS(27)