I am responsible for the treasury centre located in Singapore for the Asia region, which includes Asia Pacific, India, Japan as well as Greater China. In terms of foreign exchange we manage transaction risk exposures in currencies other than our functional currency of US dollar amounting to approximately $80-100 million in local currency terms and largely denominated in Singapore dollars, ringgit, renminbi and rupees. To a lesser extent we also have FX risk in Taiwan dollars, Hong Kong dollars, won, yen, euro, Australian dollars, baht, and Philippine pesos, so I would say that we are quite broadly exposed. Economic exposure is managed at the...
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