SINGAPORE (Nov 14): Golden Agri-Resources has managed to narrow its losses in 9M19 to US$45.6 million ($62.1 million), from US$81.1 million in 9M18.
The improvement was led by foreign exchange gains and gains from changes in fair value of biological assets.
During the period, the group recorded foreign exchange gains of US$23.9 million, compared to a loss of US$45.8 million in the previous year, mainly attributable to the translation gain on net monetary assets as Indonesian Rupiah strengthened against USD during the current period, and fair value gain on forward foreign currency contracts entered to hedge the currency exposure.
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