notes to the financial statements
for the financial year ended 31 December 2014 (Continued)
20 AMOUNTS OWING BY/(TO) SUBSIDIARIES (CONTINUED)
(a)
Amounts owing by subsidiaries (continued)
The Company’s amounts owing by subsidiaries exposure to foreign currency (a currency which is other than the functional currency of the Company) risk, based
on carrying amounts as at the end of the financial year, was:
Company
2014
2013
RM'000
RM'000
- United States Dollar
206,616
162,707
(b)
Amounts owing to subsidiaries
Company
2014
2013
RM'000
RM'000
Interest bearing loans (unsecured)
1,528
38,100
Interest free advances (unsecured)
-
1,471
1,528
39,571
The effective interest rate of interest bearing loans as at 31 December 2014 is 3.00% to 4.25% (2013: 3.00%) per annum. The loans and advances are repayable
on demand.
As at 31 December 2014 and 31 December 2013, the Company has no exposure to foreign currency risk for the amounts owing to subsidiaries.
21 AMOUNTS OWING BY/(TO) ASSOCIATES
(a)
Amounts owing by associates
Group
2014
2013
RM'000
RM'000
Trade accounts
142
733
Advances
1,838
9,325
Less: Allowance for impairment loss
(534)
(2,686)
1,446
7,372
128
Wah Seong Corporation Berhad • Annual Report 2014
