Page 106 - Annual report eng 2019

Tycoons Worldwide Group (Thailand) Plc.

(Unit: Million Baht)
Financial statements in which equity method is applied/Separate financial statements
As at 31 December 2018
Fixed interest rates Floating Non-
Within interest interest
1 year 1 - 5 years rate bearing Total Effective interest rate
(%)
Financial assets
Cash and cash equivalent - - 498 87 585 Refer to Note 7
Trade and other receivables - - - 827 827 -
Restricted bank deposits 60 - - - 60 Refer to Note 11
60 - 498 914 1,472

Financial liabilities
Trade and other payables - - - 832 832 -
Short-term loans 1,693 - - - 1,693 Refer to Note 15
Long-term loans - - 78 - 78 Refer to Note 17
1,693 - 78 832 2,603

Foreign currency risk

The Company’s exposure to foreign currency risk arises mainly from trading transactions that
are denominated in foreign currencies. The Company seeks to reduce this risk by entering into

forward exchange contracts when it considers appropriate. Generally, the forward contracts
mature within one year.

The balances of financial assets and liabilities denominated in foreign currencies are

summarised below.

Financial assets Financial liabilities Average exchange rate
Foreign currency as at 31 December as at 31 December as at 31 December

2019 2018 2019 2018 2019 2018
(Million) (Million) (Million) (Million) (Baht per 1 foreign currency unit)

US dollar 4.88 15.07 45.94 55.54 30.1540 32.4498
Euro 2.87 4.16 0.04 0.11 33.7311 37.1252
New Taiwan dollar 0.01 0.01 3.75 0.30 1.0019 1.0545

94