Ntegrator International Ltd. - Annual Report 2020

88 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 24. Financial risk management (continued) (a) Market risk (i) Currency risk The Group operates in Asia with dominant operations in Singapore, Vietnam and Myanmar. Entities in the Group regularly transact in currencies other than their respective functional currencies (“foreign currencies”). Currency risk arises within entities in the Group when transactions are denominated in foreign currency such as the United States Dollar (“USD”). In addition, the Group is exposed to currency translation risk on the net assets in foreign operations. Currency exposure to the net assets of the Group’s foreign operations has been monitored throughout the year and the impacts to the Group’s financial statements are not significant. The Group’s currency exposure based on the information provided to key management is as follows: SGD USD Other Total S$’000 S$’000 S$’000 S$’000 At 31 December 2020 Financial assets Cash and cash equivalents 7,250 1,067 2 8,319 Trade and other receivables 16,538 845 3 17,386 Inter-company balances 27,521 - - 27,521 51,309 1,912 5 53,226 Financial liabilities Trade and other payables 3,893 1,011 - 4,904 Borrowings 15,693 - - 15,693 Inter-company balances 27,521 - - 27,521 47,107 1,011 - 48,118 Net financial assets 4,202 901 5 5,108 Currency exposure of financial assets net of those denominated in the respective entities’ functional currencies - 901 5 906 At 31 December 2019 Financial assets Cash and cash equivalents 1,254 1,180 2 2,436 Trade and other receivables 25,958 1,648 - 27,606 Inter-company balances 29,929 - - 29,929 57,141 2,828 2 59,971 Financial liabilities Trade and other payables 4,772 3,339 45 8,156 Borrowings 12,946 - - 12,946 Inter-company balances 29,929 - - 29,929 47,647 3,339 45 51,031 Net financial assets/(liabilities) 9,494 (511) (43) 8,940 Currency exposure of financial assets/(liabilities) net of those denominated in the respective entities’ functional currencies 9,156 2 (42) 9,116