The individual business units do not have material

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Unformatted text preview: e rise to receivables and payables in foreign currency of each of the business units. The individual business units do not have material trade in currency other than their own with third parties which would give rise to any foreign currency risk. The Group considers itself a long term holder of the assets of Wellcom London Ltd (formerly Keene Repro Ltd), Wellcom Group Pte Ltd and Wellmalaysia Sdn Bhd, and as such does not consider short term currency risk exposure. Interest on borrowings is denominated in currencies that match the cash flows generated by the underlying operations of the Group, primarily AUD. As the Group’s exposure to currency risk on commercial trading is not significant it has not entered into any hedge transactions or taken alternative measures to minimise fluctuations in the respective currencies. Exposure to currency risk The Group’s exposure to foreign currency risk at reporting date was as follows, based on notional amounts: In thousands of AUD Trade receivables Trade payables Gross exposure GBP 722 (153) 569 NZD 95 (48) 47 30 June 2011 SGD MYR 100 29 (1) 0 99 29 GBP 1,268 (247) 1,021 30 June 2010 NZD SGD 116 48 (65) 51 48 The following sig...
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This document was uploaded on 02/06/2014.

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