There has been major "realignment"of global currencies over the last 12 to 18 months....A double edged sword given the global nature of ZGL business & the fact it quotes it profits/revenues in SGD which in turn translates into AUD.
Here are some movements that relevant to ZGL:
# SGD/AUD: Strengthened by 25% from 0.70 to 0.90....Good for us Ausies....Will make ZGL numbers a lot healthier converted to AUD (revenues/profits/NTA)
# SGD/USD: Weakened by 9% from 0.85 to 0.78....Also good...More competitive.
# SGD/CNY: Weakened by by 15% from 5.45 to 4.74....Also good.
# SGD/JPY: Massive strength by 35% from 0.56 to 0.80...mainly because of intentional devaluation of of the Yen globally....This is bad.
It is likely these currency trends will persist for the foreseeable future.
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