McConnell Dowell 2019 Annual Review

81 Annual Review 2019 All figures are in A$ 000’s 2019 2018 Financial assets Cash and cash equivalents 11,910 12,768 Trade and other receivables 15,099 4,312 Total financial assets 27,009 17,080 Financial liabilities Trade and other payables 12,132 10,329 Total financial liabilities 12,132 10,329 Total exposure 14,877 6,751 The net exposure to foreign currency consists of: Chinese Yuan (211) (175) Euro 400 244 Indonesian Rupiah 433 1,322 New Zealand Dollars 63 163 Papua New Guinea Kina (27) (26) South African Rand - (2,246) Singapore Dollars (306) (1,025) Thai Baht 47 - United Arab Emirates Dirham 1,923 1,825 United Kingdom Pounds 4 123 US Dollars 7,572 2,498 Australian Dollars 5,100 3,972 Other Currencies (121) 75 Total exposure 14,877 6,751 Foreign currency risk Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange rates relates primarily to the Group’s operating activities (when revenue or expense is denominated in a different currency from the foreign operations functional currency) and the Group’s net investments in foreign subsidiaries. The majority of both foreign currency sales and expenses are denominated in the functional currency of the transacting operating entity. The Group manages its foreign currency exposures by attempting to make contract receipts in the same currency as contract payments thereby naturally hedging any exposures. As at balance date, the Group had the following exposure to foreign currency: Consolidated