NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 4. MANAGEMENT OF INSURANCE AND FINANCIAL RISKS (CONTINUED) (c) Financial risk (continued) (i) Market risk (continued) (c) Foreign currency risk (continued) The following table presents the Group’s exposures to major foreign currencies, presented in Singapore Dollars equivalent amounts as at: 2017 USD $’000 EUR $’000 HKD $’000 GBP $’000 JPY $’000 Others $’000 Assets Investments – Equities 906,874 234,491 534,957 214,784 9,171 948,095 – Debt securities 5,357,710 381,230 – 100,389 – 50,945 – Funds 2,025,385 581,666 53,871 9,440 11,417 66,812 – Investment debtors 3,596 17 37 552 37 262 Cash and cash equivalents 148,038 2,369 1,218 5,776 173 9,695 Liabilities – Investment creditors (44,618) – – – – – Total 8,396,985 1,199,773 590,083 330,941 20,798 1,075,809 Less: Derivative contracts (net currency exposure) (7,766,980) (1,329,805) (557,878) (383,702) (112,727) (1,205,703) Net foreign currency risk exposure 630,005 (130,032) 32,205 (52,761) (91,929) (129,894) 2016 USD $’000 EUR $’000 HKD $’000 GBP $’000 JPY $’000 Others $’000 Assets Investments – Equities 719,688 189,324 365,356 193,593 6,706 714,115 – Debt securities 5,035,169 235,850 – 79,621 – 54,610 – Funds 1,658,418 516,708 6,232 4,865 7,606 61,038 – Investment debtors 8,939 73 10 23 26 33 Cash and cash equivalents 157,747 1,113 500 2,125 173 7,218 Liabilities – Investment creditors (15,075) (252) – – – – Total 7,564,886 942,816 372,098 280,227 14,511 837,014 Less: Derivative contracts (net currency exposure) (7,191,644) (990,182) (396,483) (305,815) (63,226) (886,950) Net foreign currency risk exposure 373,242 (47,366) (24,385) (25,588) (48,715) (49,936) ANNUAL REPORT 2017 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED 76