PURPOSE
To show illustration of intercompany funding journals.
OVERVIEW
TRANSACTION DETAILS
| Accounting Base Ccy |
| Principal Acct Cntr |
| Interco |
| Currency |
| USD |
| TFS-SG |
| TGL-SG |
| SGD |
| Trade ID | Transaction | VDate | Amount | Capitalise Int. |
|---|---|---|---|---|
| ADV1001 | Lend to Subsidiary | 3-Feb-03 | 700,000.00 | - |
| ADV1002 | Lend to Subsidiary | 19-Feb-03 | 600,000.00 | - |
| ADV1003 | Redeem Principal | 24-Feb-03 | 800,000.00 | - |
| ADV1004 | Redeem Principal | 12-Mar-03 | 100,000.00 | - |
| ADV1005 | Capitalise Interest | 25-Mar-03 | - | 2,743.06 |
| ADV1006 | Redeem Principal + Capitalise Interest | 10-Apr-10 | 600,000.00 | 596.40 |
| ADV1007 | Borrow from Subsidiary | 17-Apr-10 | 50,000.00 | - |
| ADV1008 | Borrow from Subsidiary | 21-Apr-10 | 170,000.00 | 217.82 |
INTERCOMPANY RATES
| Dates | Base Rate (%) | Lend Margin | Borrow Margin | All in Borrow (%) |
|
|---|---|---|---|---|---|
| 1-Feb-03 | 3.000000 | 0.200000 | 3.200000 | 0.800000 | 3.800000 |
| 1-Mar-03 | 3.100000 | 0.200000 | 3.300000 | 0.800000 | 3.900000 |
| 15-Mar-03 | 3.100000 | 0.250000 | 3.350000 | 0.850000 | 3.950000 |
| 1-Apr-03 | 3.200000 | 0.200000 | 3.400000 | 0.850000 | 4.050000 |
| 1-May-03 | 3.300000 | 0.200000 | 3.500000 | 0.850000 | 4.150000 |
SUMMARY OF JOURNALS
| ID | Date | Description |
|---|---|---|
| J1 | 3-Feb-03 | Lend to Subsidiary |
| J2 | 19-Feb-03 | Lend to Subsidiary |
| J3 | 24-Feb-03 | Redeem Principal from Subsidiary |
| J4 | 28-Feb-03 | Interco Funding Month End Interest Accruals |
| J5 | 1-Mar-03 | Reversal of Interco Funding Interest Accruals |
| J6 | 12-Mar-03 | Redeem Principal from Subsidiary |
| J7 | 25-Mar-03 | Interco Funding Interest Capitalisation |
| J8 | 31-Mar-03 | Interco Funding Month End Interest Accruals |
| J9 | 1-Apr-03 | Reversal of Interco Funding Interest Accruals |
| J10 | 10-Apr-03 | Redeem Principal + Interest Capitalisation (Reduce amount of lending by principal. Over repaid by subs leading to principal borrow from subs.) |
| J11 | 17-Apr-03 | Borrow from Subsidiary (Principal now in payable position with subs) |
| J12 | 21-Apr-03 | Borrow from Subsidiary (Principal now in payable position with subs) |
J1 Lend to Subsidiary
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1001 | 3-Feb-03 | B | Interco Advance | SGD | 700,000.00 | 0.567456 | USD | 397,219.46 | J1a |
| ADV1001 | 3-Feb-03 | B | Cash at Bank | SGD | -700,000.00 | 0.567456 | USD | -397,219.46 | J1b |
J2 Lend to Subsidiary
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1002 | 19-Feb-03 | B | Interco Advance | SGD | 600,000.00 | 0.555973 | USD | 333,583.52 | J2a |
| ADV1002 | 19-Feb-03 | B | Cash at Bank | SGD | -600,000.00 | 0.555973 | USD | -333,583.52 | J2b |
J3 Redeem Principal from Subsidiary
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1003 | 24-Feb-03 | B | Cash at Bank | SGD | 800,000.00 | 0.561344 | USD | 449,074.91 | J3a |
| ADV1003 | 24-Feb-03 | B | Interco Advance | SGD | -800,000.00 | 0.566021 | USD | -452,816.71 | J3b |
| ADV1003 | 24-Feb-03 | P | FX - Realised Losses Capital-Advances | SGD | USD | 3,741.80 | J3c |
Note J3b: The computation of interco funding cost is analyzed as follows:
Based on FIFO
| Date | SGD | Rate + | USD |
| 3-Feb-10 | 700,000.00 | 0.567456 | 397,219.46 |
| 19-Feb-10 | 100,000.00 | 0.555973 | 55,597.25 |
| 800,000.00 | 452,816.71 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J3c: The unrealised foreign exchange loss on the interco funding is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 800,000.00 | 0.561344 | 449,074.91 |
| At Historical Rate | 800,000.00 | 0.566021 | 452,816.71 |
| Loss in exchange | -3,741.80 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J4 Interco Funding Month End Interest Accruals
| PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|
| 28-Feb-03 | B | Interco Advance Interest Receivable | SGD | 1,770.97 | 0.568919 | USD | 1,007.54 | J4a |
| 28-Feb-03 | P | Interco Advance Interest Income | SGD | -1,770.97 | 0.571766 | USD | -1,012.58 | J4b |
| 28-Feb-03 | P | FX-Unrealised Losses Revenue-Advances | SGD | USD | 5.04 | J4c |
Note J4a: See Appendix on Calculation of Interest Accrual in SGD.
Note J4b: See Appendix on Calculation of Interest Accrual in USD.
Note J4c: The unrealised foreign exchange loss on interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 1,770.97 | 0.568919 | 1,007.54 |
| At Historical Rate | 1,770.97 | 0.571766 | 1,012.58 |
| Loss in exchange | -5.04 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J5 Reversal of Interco Funding Interest Accruals
| PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|
| 1-Mar-03 | B | Interco Advance Interest Receivable | SGD | -1,770.97 | 0.568919 | USD | -1,007.54 | J5a |
| 1-Mar-03 | P | Interco Advance Interest Income | SGD | 1,770.97 | 0.571766 | USD | 1,012.58 | J5b |
| 1-Mar-03 | P | FX-Unrealised Losses Revenue-Advances | SGD | USD | -5.04 | J5c |
J6 Redeem Principal from Subsidiary
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1004 | 12-Mar-03 | B | Cash at Bank | SGD | 100,000.00 | 0.565528 | USD | 56,552.77 | J6a |
| ADV1004 | 12-Mar-03 | B | Interco Advance | SGD | -100,000.00 | 0.555973 | USD | -55,597.25 | J6b |
| ADV1004 | 12-Mar-03 | P | FX - Realised Gain Capital-Advances | SGD | USD | -955.52 | J6c |
Note J6b: The computation of interco funding cost is analyzed as follows:
Based on FIFO
| Date | SGD | Rate + | USD |
| 19-Feb-10 | 100,000.00 | 0.555973 | 55,597.25 |
| 100,000.00 | 55,597.25 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J6c: The unrealised foreign exchange gain on the interco funding is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 100,000.00 | 0.565528 | 56,552.77 |
| At Historical Rate | 100,000.00 | 0.555973 | 55,597.25 |
| Gain in exchange | 955.52 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J7 Interco Funding Interest Capitalisation
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1005 | 25-Mar-03 | B | Interco Advance | SGD | 2,743.86 | 0.571331 | USD | 1,567.65 | J7a |
| ADV1005 | 25-Mar-03 | P | Interco Advance Interest Income | SGD | -2,743.86 | 0.571520 | USD | -1,568.17 | J7b |
| ADV1005 | 25-Mar-03 | P | FX-Unrealised Losses Revenue-Advances | SGD | USD | 0.52 | J7c |
Note J7b: See Appendix on Interest Calculation in USD on 24-Mar-10.
Note J7c: The unrealised foreign exchange loss on the interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 2,743.86 | 0.571331 | 1,567.65 |
| At Historical Rate | 2,743.86 | 0.571520 | 1,568.17 |
| Loss in exchange | -0.52 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J8 Interco Funding Month End Interest Accruals
| PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|
| 31-Mar-03 | B | Interco Advance Interest Receivable | SGD | 258.72 | 0.577434 | USD | 149.39 | J8a |
| 31-Mar-03 | P | Interco Advance Interest Income | SGD | -258.72 | 0.575448 | USD | -148.88 | J8b |
| 31-Mar-03 | P | FX-Unrealised Gain Revenue-Advances | SGD | USD | -0.51 | J8c |
Note J8a: See Appendix on Calculation of Interest Accrual in SGD.
Note J8b: See Appendix on Calculation of Interest Accrual in USD.
Note J8c: The unrealised foreign exchange gain on the interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 258.72 | 0.577434 | 149.39 |
| At Historical Rate | 258.72 | 0.575448 | 148.88 |
| Gain in exchange | 0.51 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J9 Reversal of Interco Funding Interest Accruals
| PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|
| 1-Apr-03 | B | Interco Advance Interest Receivable | SGD | -258.72 | 0.577434 | USD | -149.39 | J9a |
| 1-Apr-03 | P | Interco Advance Interest Income | SGD | 258.72 | 0.575448 | USD | 148.88 | J9b |
| 1-Apr-03 | P | FX-Unrealised Gain Revenue-Advances | SGD | USD | 0.51 | J9c |
J10 Redeem Principal + Interest Capitalisation (Reduce amount of lending by principal. Over repaid by subs leading to principal borrow from subs.)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1006 | 10-Apr-03 | B | Cash at Bank | SGD | 600,000.00 | 0.579774 | USD | 347,864.40 | J10a |
| ADV1006 | 10-Apr-03 | B | Interco Advance | SGD | -600,000.00 | 0.563868 | USD | -338,320.64 | J10b |
| ADV1006 | 10-Apr-03 | P | FX - Realised Gain Capital-Advances | SGD | USD | -9,543.76 | J10c | ||
| ADV1006 | 10-Apr-03 | B | Interco Advance | SGD | 596.40 | 0.579774 | USD | 345.78 | J10d |
| ADV1006 | 10-Apr-03 | P | Interco Advance Interest Income | SGD | -596.40 | 0.572351 | USD | -341.35 | J10e |
| ADV1006 | 10-Apr-03 | P | FX - Realised Gain Revenue-Advances | SGD | USD | -4.43 | J10f |
Note J10b: The computation of interco funding cost is analyzed as follows:
Based on FIFO
| Date | SGD | Rate + | USD |
| 19-Feb-10 | 400,000.00 | 0.555973 | 222,389.01 |
| 25-Mar-03 | 2,743.86 | 0.571331 | 1,567.65 |
| 10-Apr-03 | 596.40 | 0.579774 | 345.78 |
| 10-Apr-03 | 196,659.74 | 0.579774 | 114,018.20 |
| 600,000.00 | 338,320.64 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J10c: The unrealised foreign exchange gain on the advances is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 600,000.00 | 0.579774 | 347,864.40 |
| At Historical Rate | 600,000.00 | 0.563868 | 338,320.64 |
| Gain in exchange | 9,543.76 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J10e: See Appendix on Interest Calculation in USD on 9-Apr-10.
Note J10f: The unrealised foreign exchange gain on the interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Closing Rate | 596.40 | 0.579774 | 345.78 |
| At Historical Rate | 596.40 | 0.572351 | 341.35 |
| Gain in exchange | 4.43 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J11 Borrow from Subsidiary (Principal now in payable position with subs)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1007 | 17-Apr-03 | B | Interco Advance | SGD | 50,000.00 | 0.579774 | USD | 28,988.70 | J11a |
| ADV1007 | 17-Apr-03 | B | Cash at Bank | SGD | -50,000.00 | 0.570112 | USD | -28,505.62 | J11b |
| ADV1007 | 17-Apr-03 | P | FX - Realised Gain Revenue-Advances | SGD | USD | -483.08 | J11c |
Note J11a: The computation of interco funding cost is analyzed as follows:
Based on FIFO
| Date | SGD | Rate + | USD |
| 10-Apr-03 | 50,000.00 | 0.579774 | 28,988.70 |
| 50,000.00 | 28,988.70 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J11c: The unrealised foreign exchange gain on the interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Historical Rate | 50,000.00 | 0.579774 | 28,988.70 |
| At Closing Rate | 50,000.00 | 0.570112 | 28,505.62 |
| Gain in exchange | 483.08 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
J12 Borrow from Subsidiary (Principal now in payable position with subs)
| TradeID | PostDate | B/P | Account | Ccy | Ccy Amt D/(CR) | Rate | Base | Base Amt D/(CR) | Line |
|---|---|---|---|---|---|---|---|---|---|
| ADV1008 | 21-Apr-03 | B | Interco Advance | SGD | 170,000.00 | 0.580038 | USD | 98,606.45 | J12a |
| ADV1008 | 21-Apr-03 | B | Cash at Bank | SGD | -170,000.00 | 0.581696 | USD | -98,888.38 | J12b |
| ADV1008 | 21-Apr-03 | P | FX - Realised Losses Capital-Advances | SGD | USD | 281.93 | J12c | ||
| ADV1008 | 21-Apr-03 | B | Interco Advance Interest Expenses | SGD | 217.82 | 0.572537 | USD | 124.71 | J12d |
| ADV1008 | 21-Apr-03 | P | Interco Advance | SGD | -217.82 | 0.581696 | USD | -126.71 | J12e |
| ADV1008 | 21-Apr-03 | P | FX - Realised Losses Revenue-Advances | SGD | USD | 2.00 | J12f |
Note J12a: The computation of Interco funding cost is analyzed as follows:
Based on FIFO
| Date | SGD | Rate + | USD |
| 10-Apr-03 | 146,659.74 | 0.579774 | 85,029.50 |
| 21-Apr-03 | 217.82 | 0.581696 | 126.71 |
| 21-Apr-03 | 23,122.44 | 0.581696 | 13,450.24 |
| 170,000.00 | 98,606.45 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J12c: The unrealised foreign exchange loss on the interco funding is analyzed as follows:
| SGD | Rate + | USD |
|
| At Historical Rate | 170,000.00 | 0.580038 | 98,606.45 |
| At Closing Rate | 170,000.00 | 0.581696 | 98,888.38 |
| Loss in exchange | -281.93 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
Note J12f: The unrealised foreign exchange loss on the interest income is analyzed as follows:
| SGD | Rate + | USD |
|
| At Historical Rate | 217.82 | 0.572537 | 124.71 |
| At Closing Rate | 217.82 | 0.581696 | 126.71 |
| Loss in exchange | -2.00 |
+ Rates used for calculation are in full precision. Illustrated rates are rounded to 6dp.
EXCHANGE RATES
Our illustration assumes the company uses different daily exchange rates for accounting.
The following rates were used for this illustration.
| Date | SGD/USD | USD/SGD* |
| 1-Feb-03 | 1.790860 | 0.558391 |
| 2-Feb-03 | 1.749860 | 0.571474 |
| 3-Feb-03 | 1.762250 | 0.567456 |
| 4-Feb-03 | 1.707050 | 0.585806 |
| 5-Feb-03 | 1.748610 | 0.571883 |
| 6-Feb-03 | 1.784280 | 0.560450 |
| 7-Feb-03 | 1.714840 | 0.583145 |
| 8-Feb-03 | 1.709630 | 0.584922 |
| 9-Feb-03 | 1.789860 | 0.558703 |
| 10-Feb-03 | 1.722890 | 0.580420 |
| 11-Feb-03 | 1.778140 | 0.562385 |
| 12-Feb-03 | 1.779460 | 0.561968 |
| 13-Feb-03 | 1.713340 | 0.583655 |
| 14-Feb-03 | 1.749120 | 0.571716 |
| 15-Feb-03 | 1.741750 | 0.574135 |
| 16-Feb-03 | 1.753570 | 0.570265 |
| 17-Feb-03 | 1.714750 | 0.583175 |
| 18-Feb-03 | 1.762070 | 0.567514 |
| 19-Feb-03 | 1.798650 | 0.555973 |
| 20-Feb-03 | 1.717170 | 0.582354 |
| 21-Feb-03 | 1.745260 | 0.572981 |
| 22-Feb-03 | 1.728760 | 0.578449 |
| 23-Feb-03 | 1.763430 | 0.567077 |
| 24-Feb-03 | 1.781440 | 0.561344 |
| 25-Feb-03 | 1.777270 | 0.562661 |
| 26-Feb-03 | 1.724670 | 0.579821 |
| 27-Feb-03 | 1.773040 | 0.564003 |
| 28-Feb-03 | 1.757720 | 0.568919 |
| 1-Mar-03 | 1.771690 | 0.564433 |
| 2-Mar-03 | 1.745680 | 0.572843 |
| 3-Mar-03 | 1.714290 | 0.583332 |
| 4-Mar-03 | 1.730790 | 0.577771 |
| 5-Mar-03 | 1.759500 | 0.568343 |
| 6-Mar-03 | 1.783630 | 0.560654 |
| 7-Mar-03 | 1.737210 | 0.575636 |
| 8-Mar-03 | 1.700640 | 0.588014 |
| 9-Mar-03 | 1.776630 | 0.562863 |
| 10-Mar-03 | 1.741840 | 0.574106 |
| 11-Mar-03 | 1.749200 | 0.571690 |
| 12-Mar-03 | 1.768260 | 0.565528 |
| 13-Mar-03 | 1.731100 | 0.577667 |
| 14-Mar-03 | 1.744420 | 0.573256 |
| 15-Mar-03 | 1.758410 | 0.568696 |
| 16-Mar-03 | 1.750380 | 0.571305 |
| 17-Mar-03 | 1.786400 | 0.559785 |
| 18-Mar-03 | 1.717840 | 0.582126 |
| 19-Mar-03 | 1.769630 | 0.565090 |
| 20-Mar-03 | 1.782510 | 0.561007 |
| 21-Mar-03 | 1.705260 | 0.586421 |
| 22-Mar-03 | 1.793590 | 0.557541 |
| 23-Mar-03 | 1.758830 | 0.568560 |
| 24-Mar-03 | 1.769870 | 0.565013 |
| 25-Mar-03 | 1.750300 | 0.571331 |
| 26-Mar-03 | 1.758520 | 0.568660 |
| 27-Mar-03 | 1.717170 | 0.582354 |
| 28-Mar-03 | 1.738150 | 0.575324 |
| 29-Mar-03 | 1.721110 | 0.581020 |
| 30-Mar-03 | 1.747610 | 0.572210 |
| 31-Mar-03 | 1.731800 | 0.577434 |
| 1-Apr-03 | 1.789510 | 0.558812 |
| 2-Apr-03 | 1.754570 | 0.569940 |
| 3-Apr-03 | 1.719940 | 0.581416 |
| 4-Apr-03 | 1.783550 | 0.560680 |
| 5-Apr-03 | 1.754490 | 0.569966 |
| 6-Apr-03 | 1.711790 | 0.584184 |
| 7-Apr-03 | 1.746990 | 0.572413 |
| 8-Apr-03 | 1.779520 | 0.561949 |
| 9-Apr-03 | 1.753350 | 0.570337 |
| 10-Apr-03 | 1.724810 | 0.579774 |
| 11-Apr-03 | 1.754270 | 0.570038 |
| 12-Apr-03 | 1.719050 | 0.581717 |
| 13-Apr-03 | 1.792690 | 0.557821 |
| 14-Apr-03 | 1.788380 | 0.559165 |
| 15-Apr-03 | 1.716150 | 0.582700 |
| 16-Apr-03 | 1.783760 | 0.560614 |
| 17-Apr-03 | 1.754040 | 0.570112 |
| 18-Apr-03 | 1.705170 | 0.586452 |
| 19-Apr-03 | 1.702350 | 0.587423 |
| 20-Apr-03 | 1.761600 | 0.567666 |
| 21-Apr-03 | 1.719110 | 0.581696 |
| 22-Apr-03 | 1.722530 | 0.580541 |
| 23-Apr-03 | 1.701540 | 0.587703 |
| 24-Apr-03 | 1.725850 | 0.579425 |
| 25-Apr-03 | 1.711030 | 0.584443 |
| 26-Apr-03 | 1.727670 | 0.578814 |
| 27-Apr-03 | 1.724730 | 0.579801 |
| 28-Apr-03 | 1.714400 | 0.583294 |
| 29-Apr-03 | 1.753030 | 0.570441 |
| 30-Apr-03 | 1.780370 | 0.561681 |
| 1-May-03 | 1.722660 | 0.580498 |
| 2-May-03 | 1.715060 | 0.583070 |
| 3-May-03 | 1.750770 | 0.571177 |
| 4-May-03 | 1.753410 | 0.570317 |
| 5-May-03 | 1.754000 | 0.570125 |
| 6-May-03 | 1.732000 | 0.577367 |
| 7-May-03 | 1.799400 | 0.555741 |
| 8-May-03 | 1.775060 | 0.563361 |
| 9-May-03 | 1.705870 | 0.586211 |
| 10-May-03 | 1.765260 | 0.566489 |
| 11-May-03 | 1.794610 | 0.557224 |
| 12-May-03 | 1.795970 | 0.556802 |
| 13-May-03 | 1.740630 | 0.574505 |
| 14-May-03 | 1.797650 | 0.556282 |
| 15-May-03 | 1.700160 | 0.588180 |
| 16-May-03 | 1.774960 | 0.563393 |
| 17-May-03 | 1.744740 | 0.573151 |
| 18-May-03 | 1.737400 | 0.575573 |
| 19-May-03 | 1.786850 | 0.559644 |
| 20-May-03 | 1.729840 | 0.578088 |
| 21-May-03 | 1.744710 | 0.573161 |
| 22-May-03 | 1.702490 | 0.587375 |
| 23-May-03 | 1.784060 | 0.560519 |
| 24-May-03 | 1.717980 | 0.582079 |
| 25-May-03 | 1.790850 | 0.558394 |
| 26-May-03 | 1.750000 | 0.571429 |
| 27-May-03 | 1.768040 | 0.565598 |
| 28-May-03 | 1.708310 | 0.585374 |
| 29-May-03 | 1.739590 | 0.574848 |
| 30-May-03 | 1.779960 | 0.561810 |
| 31-May-03 | 1.754360 | 0.570008 |
| 1-Jun-03 | 1.744010 | 0.573391 |
* round to 6 dp. Full precision used for calculation of average rates
APPENDIX
The movement of the intercompany advance activities and the accumulated interest is analyzed as follows:
Intercompany Funding Activities
SGD USD
| Date | Lend(+)/Repaid(-) | Cap Int | Balance | Rate (%) | Interest | Cumulation | Exc Rate | Interest | Cumulation |
| 3-Feb-03 | 700,000.00 | 700,000.00 | 3.200000 | 61.37 | 61.37 | 0.567456 | 34.82 | 34.82 |
|
| 4-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 122.74 | 0.585806 | 35.95 | 70.77 |
||
| 5-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 184.11 | 0.571883 | 35.10 | 105.87 |
||
| 6-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 245.48 | 0.560450 | 34.39 | 140.26 |
||
| 7-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 306.85 | 0.583145 | 35.79 | 176.05 |
||
| 8-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 368.22 | 0.584922 | 35.90 | 211.95 |
||
| 9-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 429.59 | 0.558703 | 34.29 | 246.24 |
||
| 10-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 490.96 | 0.580420 | 35.62 | 281.86 |
||
| 11-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 552.33 | 0.562385 | 34.51 | 316.37 |
||
| 12-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 613.70 | 0.561968 | 34.49 | 350.86 |
||
| 13-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 675.07 | 0.583655 | 35.82 | 386.68 |
||
| 14-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 736.44 | 0.571716 | 35.09 | 421.77 |
||
| 15-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 797.81 | 0.574135 | 35.23 | 457.00 |
||
| 16-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 859.18 | 0.570265 | 35.00 | 492.00 |
||
| 17-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 920.55 | 0.583175 | 35.79 | 527.79 |
||
| 18-Feb-03 | 700,000.00 | 3.200000 | 61.37 | 981.92 | 0.567514 | 34.83 | 562.62 |
||
| 19-Feb-03 | 600,000.00 | 1,300,000.00 | 3.200000 | 113.97 | 1,095.89 | 0.555973 | 63.36 | 625.98 |
|
| 20-Feb-03 | 1,300,000.00 | 3.200000 | 113.97 | 1,209.86 | 0.582354 | 66.37 | 692.35 |
||
| 21-Feb-03 | 1,300,000.00 | 3.200000 | 113.97 | 1,323.83 | 0.572981 | 65.30 | 757.65 |
||
| 22-Feb-03 | 1,300,000.00 | 3.200000 | 113.97 | 1,437.80 | 0.578449 | 65.93 | 823.58 |
||
| 23-Feb-03 | 1,300,000.00 | 3.200000 | 113.97 | 1,551.77 | 0.567077 | 64.63 | 888.21 |
||
| 24-Feb-03 | (800,000.00) | 500,000.00 | 3.200000 | 43.84 | 1,595.61 | 0.561344 | 24.61 | 912.82 |
|
| 25-Feb-03 | 500,000.00 | 3.200000 | 43.84 | 1,639.45 | 0.562661 | 24.67 | 937.49 |
||
| 26-Feb-03 | 500,000.00 | 3.200000 | 43.84 | 1,683.29 | 0.579821 | 25.42 | 962.91 |
||
| 27-Feb-03 | 500,000.00 | 3.200000 | 43.84 | 1,727.13 | 0.564003 | 24.73 | 987.64 |
||
| 28-Feb-03 | 500,000.00 | 3.200000 | 43.84 | 1,770.97 | 0.568919 | 24.94 | 1,012.58 |
||
| 1-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 1,816.18 | 0.564433 | 25.52 | 1,038.10 |
||
| 2-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 1,861.39 | 0.572843 | 25.90 | 1,064.00 |
||
| 3-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 1,906.60 | 0.583332 | 26.37 | 1,090.37 |
||
| 4-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 1,951.81 | 0.577771 | 26.12 | 1,116.49 |
||
| 5-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 1,997.02 | 0.568343 | 25.69 | 1,142.18 |
||
| 6-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,042.23 | 0.560654 | 25.35 | 1,167.53 |
||
| 7-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,087.44 | 0.575636 | 26.02 | 1,193.55 |
||
| 8-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,132.65 | 0.588014 | 26.58 | 1,220.13 |
||
| 9-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,177.86 | 0.562863 | 25.45 | 1,245.58 |
||
| 10-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,223.07 | 0.574106 | 25.96 | 1,271.54 |
||
| 11-Mar-03 | 500,000.00 | 3.300000 | 45.21 | 2,268.28 | 0.571690 | 25.85 | 1,297.39 |
||
| 12-Mar-03 | (100,000.00) | 400,000.00 | 3.300000 | 36.16 | 2,304.44 | 0.565528 | 20.45 | 1,317.84 |
|
| 13-Mar-03 | 400,000.00 | 3.300000 | 36.16 | 2,340.60 | 0.577667 | 20.89 | 1,338.73 |
||
| 14-Mar-03 | 400,000.00 | 3.300000 | 36.16 | 2,376.76 | 0.573256 | 20.73 | 1,359.46 |
||
| 15-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,413.47 | 0.568696 | 20.88 | 1,380.34 |
||
| 16-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,450.18 | 0.571305 | 20.97 | 1,401.31 |
||
| 17-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,486.89 | 0.559785 | 20.55 | 1,421.86 |
||
| 18-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,523.60 | 0.582126 | 21.37 | 1,443.23 |
||
| 19-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,560.31 | 0.565090 | 20.74 | 1,463.97 |
||
| 20-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,597.02 | 0.561007 | 20.59 | 1,484.56 |
||
| 21-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,633.73 | 0.586421 | 21.53 | 1,506.09 |
||
| 22-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,670.44 | 0.557541 | 20.47 | 1,526.56 |
||
| 23-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,707.15 | 0.568560 | 20.87 | 1,547.43 |
||
| 24-Mar-03 | 400,000.00 | 3.350000 | 36.71 | 2,743.86 | 0.565013 | 20.74 | 1,568.17 |
||
| 25-Mar-03 | 2,743.86 | 402,743.86 | 3.350000 | 36.96 | 36.96 | 0.571331 | 21.12 | 21.12 |
|
| 26-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 73.92 | 0.568660 | 21.02 | 42.14 |
||
| 27-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 110.88 | 0.582354 | 21.52 | 63.66 |
||
| 28-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 147.84 | 0.575324 | 21.26 | 84.92 |
||
| 29-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 184.80 | 0.581020 | 21.47 | 106.39 |
||
| 30-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 221.76 | 0.572210 | 21.15 | 127.54 |
||
| 31-Mar-03 | 402,743.86 | 3.350000 | 36.96 | 258.72 | 0.577434 | 21.34 | 148.88 |
||
| 1-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 296.24 | 0.558812 | 20.97 | 169.85 |
||
| 2-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 333.76 | 0.569940 | 21.38 | 191.23 |
||
| 3-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 371.28 | 0.581416 | 21.81 | 213.04 |
||
| 4-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 408.80 | 0.560680 | 21.04 | 234.08 |
||
| 5-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 446.32 | 0.569966 | 21.39 | 255.47 |
||
| 6-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 483.84 | 0.584184 | 21.92 | 277.39 |
||
| 7-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 521.36 | 0.572413 | 21.48 | 298.87 |
||
| 8-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 558.88 | 0.561949 | 21.08 | 319.95 |
||
| 9-Apr-03 | 402,743.86 | 3.400000 | 37.52 | 596.40 | 0.570337 | 21.40 | 341.35 |
||
| 10-Apr-03 | (600,000.00) | 596.40 | (196,659.74) | 4.050000 | (21.82) | (21.82) | 0.579774 | (12.65) | (12.65) |
| 11-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (43.64) | 0.570038 | (12.44) | (25.09) |
||
| 12-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (65.46) | 0.581717 | (12.69) | (37.78) |
||
| 13-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (87.28) | 0.557821 | (12.17) | (49.95) |
||
| 14-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (109.10) | 0.559165 | (12.20) | (62.15) |
||
| 15-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (130.92) | 0.582700 | (12.71) | (74.86) |
||
| 16-Apr-03 | (196,659.74) | 4.050000 | (21.82) | (152.74) | 0.560614 | (12.23) | (87.09) |
||
| 17-Apr-03 | 50,000.00 | (146,659.74) | 4.050000 | (16.27) | (169.01) | 0.570112 | (9.28) | (96.37) |
|
| 18-Apr-03 | (146,659.74) | 4.050000 | (16.27) | (185.28) | 0.586452 | (9.54) | (105.91) |
||
| 19-Apr-03 | (146,659.74) | 4.050000 | (16.27) | (201.55) | 0.587423 | (9.56) | (115.47) |
||
| 20-Apr-03 | (146,659.74) | 4.050000 | (16.27) | (217.82) | 0.567666 | (9.24) | (124.71) |
||
| 21-Apr-03 | 170,000.00 | (217.82) | 23,122.44 | 3.400000 | 2.15 | 2.15 | 0.581696 | 1.25 | 1.25 |
| 22-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 4.30 | 0.580541 | 1.25 | 2.50 |
||
| 23-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 6.45 | 0.587703 | 1.26 | 3.76 |
||
| 24-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 8.60 | 0.579425 | 1.25 | 5.01 |
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| 25-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 10.75 | 0.584443 | 1.26 | 6.27 |
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| 26-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 12.90 | 0.578814 | 1.24 | 7.51 |
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| 27-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 15.05 | 0.579801 | 1.25 | 8.76 |
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| 28-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 17.20 | 0.583294 | 1.25 | 10.01 |
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| 29-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 19.35 | 0.570441 | 1.23 | 11.24 |
||
| 30-Apr-03 | 23,122.44 | 3.400000 | 2.15 | 21.50 | 0.561681 | 1.21 | 12.45 |
FREQUENTLY ASKED QUESTIONS
FAQ01. Why does the system continue to generate interest accruals even though the intercompany transaction has ceased?
The system will generate interest accruals if there is still outstanding principal or interest that has not been repaid or redeemed.
Please check to determine if there have been any rate changes under Basis Rate Maintenance (Prices > Interest Rate > Basis Rates) after the transaction has been booked. It’s important to note that any rate changes after the booking of interest capitalization or interest paid or redeemed transactions would affect interest computation.
For instance, consider a scenario where the final interest capitalization and principal repayment were recorded for value on 20 September 2017. The user inputted an interest amount of 3,530.29 for capitalization and repaid the total outstanding balance of 568,030.29 (outstanding principal + interest capitalization amount).
Note that the outstanding interest payable balance is computed based on the interest rates maintained under Basis Rate Maintenance at the booking point, as illustrated below.
Once booked, there should be no outstanding principal or interest amounts to repay, as indicated by Principal O/S and Interest O/S both showing as 0.00 in the Cumulative view.
However, if there’s a rate change/update after the transaction’s booking, for instance, a rate update effective from 1 September 2017, this would affect interest computations for transactions booked thereafter due to the altered interest rate.
If you examine the transaction for value on 20 September 2017, you may notice that the outstanding interest payable amount is no longer 3,530.29 but has changed to 3,602.22.
The Interest O/S is no longer showing 0.00 in the Cumulative view.
In such instances, it’s necessary to adjust the interest capitalization/ repayments or principal repayments accordingly to accommodate the rate adjustment.
Kindly ensure that the full principal and interest amounts are repaid or redeemed to eliminate any outstanding balances and to prevent the system from generating further interest accruals going forward.
RELATED INFORMATION
CHANGE HISTORY
| Date | By | Changes |
|---|---|---|
| 14-Oct-2008 | CS | Creation. |
| 14-Jun-2016 | RJ | Reformatted. |
| 6-Mar-2017 | TS | Updated. |
| 11-May-2020 | LT | Re-formatting. |
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