NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 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: Assets 2019 USD $’000 EUR $’000 HKD $’000 GBP $’000 JPY $’000 Others $’000 Investments – Equities 1,184,991 302,238 572,708 199,717 22,264 1,134,028 – Debt securities 7,911,263 641,149 – 131,965 – 15,341 – Funds 2,135,324 578,183 32,183 10,237 14,553 275,734 – Investment receivables 91,987 59 133 422 97 637 Cash and cash equivalents 98,936 21,238 870 5,485 194 10,057 Liabilities – Investment creditors (168,831) (59) (762) – – (617) Total 11,253,670 1,542,808 605,132 347,826 37,108 1,435,180 Less: Derivative contracts (net currency exposure) (10,677,772) (1,638,454) (580,020) (391,463) (108,284) (1,498,886) Net foreign currency risk exposure 575,898 (95,646) 25,112 (43,637) (71,176) (63,706) Assets 2018 USD $’000 EUR $’000 HKD $’000 GBP $’000 JPY $’000 Others $’000 Investments – Equities 860,656 233,219 533,553 188,828 15,979 933,862 – Debt securities 5,904,663 414,855 – 86,319 37,443 5,240 – Funds 1,839,984 611,017 13,498 6,876 15,338 68,056 – Investment receivables 13,573 – 7,335 394 66 2,983 Cash and cash equivalents 114,004 6,000 1,854 2,192 429 10,131 Liabilities – Investment creditors (50,523) – (6,433) – – (1,669) Total 8,682,357 1,265,091 549,807 284,609 69,255 1,018,603 Less: Derivative contracts (net currency exposure) (8,287,677) (1,340,799) (537,780) (335,473) (137,494) (1,061,067) Net foreign currency risk exposure 394,680 (75,708) 12,027 (50,864) (68,239) (42,464) ANNUAL REPORT 2019 83