NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 29. CAPITAL AND FINANCIAL RISK MANAGEMENT (continued) Foreign currency risk (continued) US$ RMB Total $’000 $’000 $’000 Trust 2023 Loans to subsidiaries 200,736 – 200,736 Non-trade amounts due from subsidiaries 125,546 – 125,546 Cash and cash equivalents 47 2 49 Non-trade amount due to subsidiaries (6,649) (112,513) (119,162) 319,680 (112,511) 207,169 2022 Loans to subsidiaries 203,746 – 203,746 Non-trade amounts due from subsidiaries 186,606 – 186,606 Cash and cash equivalents 216 86 302 390,568 86 390,654 Sensitivity analysis A 10% strengthening of Singapore dollar against the US$ and RMB at the reporting date would increase/ (decrease) total return after tax by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant. The analysis is performed on the same basis for 2022. Statements of total return Group Trust $’000 $’000 2023 US$ (244) (31,968) RMB (3) 11,251 2022 US$ (262) (39,057) RMB (11) (9) A 10% weakening of Singapore dollar against the US$ and RMB would have had equal but opposite effect on the US$ and RMB to the amounts shown above, on the basis that all other variables remain constant. Forwards At 31 December 2023, the Group has foreign currency forward contracts with notional amount of $30.8 million (2022: $31.0 million) to economically hedge the undistributed income for financial year 2023. The fair value of the forwards as at 31 December 2023 of $0.6 million (2022: $1.7 million) has been recognised directly in the statement of total return. A 10% strengthening/weakening of Singapore dollar against the RMB at the reporting date would increase and decrease the statement of total return by $2.7 million and $3.4 million (2022: $2.7 million and $3.2 million) respectively. 216 CAPITALAND CHINA TRUST
RkJQdWJsaXNoZXIy NTkwNzg=