From 23 January 2015
http://www.smh.com.au/business/mark...n-dollar-in-the-doldrums-20150123-12x1tx.html
''...Late in 2014, Credit Suisse compiled a list of 39 companies that would be hardest hit by a falling dollar and a list of 38 companies least affected by a falling dollar. The list used historical data to determine the sensitivities of a stock to changes in the exchange rate.
Childcare operators G8 Education, Kathmandu, Graincorp and Leighton Holdings were the companies most adversely affected by a falling Australian dollar....''
http://g8education.edu.au/wp-content/uploads/2013/09/Preliminary-Final-Report-and-Annual-Report.pdf
''.....total borrowings ... $352,944,000...''
Two loans in SGD (and a further two loans in AU$)
12 March 2014 SGD $175,000,000 (A$150,000,000)
25 August 2014 SGD $ 85,000,000 (A$70,000,000)
http://www.xe.com/currency/aud-australian-dollar
25 August 2014 SGD$1.16 per 1 AUD
http://g8education.edu.au/wp-content/uploads/2013/09/160215-Institutional-Investor-Presentation.pdf see page 20
"Impact of Foreign Exchange Translation on Cost of Debt"
"Singapore bond value at 31 Dec 2014 AUD $240,786,000"
"Translation loss at 31 Dec 2014 AUD $18,619,125"
"Total cost of Singapore bond after FX loss assuming no further movements 7.3%'' (over 3 years)
http://www.xe.com/currency/aud-australian-dollar
31 December 2014 SGD $1.08 per 1 AUD
Today 2 March 2015 SGD $1.06 per 1 AUD .
http://www.smh.com.au/business/mark...ipation-of-rba-rate-call-20150302-13ssqy.html
What effect will further falls in the AUD have?
(20min delay)