Page 108 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

The balances of financial assets and liabilities denominated in foreign currencies are

summarised below.

Financial assets Financial liabilities Average exchange rate
Foreign currency as at 31 December as at 31 December as at 31 December
2018 2017 2018 2017 2018 2017

(Million) (Million) (Million) (Million) (Baht per 1 foreign currency unit)
US dollar 15.07 17.09 55.54 34.08 32.4498 32.6809
Euro 4.16 2.76 0.11 0.11 37.1252 39.0273
New Taiwan dollar 0.01 0.01 0.30 0.15 1.0545 1.0958

Forward exchange contracts outstanding are summarised below.

As at 31 December 2018
Foreign currency Bought amount Contractual exchange rate Contractual maturity date
(Million) (Baht per 1 foreign currency unit)
US dollar 41.86 32.14 - 32.84 3 April 2019 - 3 July 2019

As at 31 December 2017
Foreign currency Bought amount Contractual exchange rate Contractual maturity date
(Million) (Baht per 1 foreign currency unit)
US dollar 15.14 32.41 - 33.32 19 March 2018 - 5 July 2018

29.2 Fair values of financial instruments

Since the majority of the Company’s financial instruments are short-term in nature or

bear floating interest rates, their fair value is not expected to be materially different
from the amounts presented in the statements of financial position.

30. Capital management

The primary objective of the Company’s capital management is to ensure that it has
appropriate capital structure in order to support its business and maximise shareholder
value. As at 31 December 2018, the Group's debt-to-equity ratio was 0.52:1
(2017: 0.47:1) and the Company’s was 0.49:1 (2017: 0.45:1).

31. Approval of financial statements

These financial statements were authorised for issue by the Company’s authorised
directors on 25 February 2019.

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