IFBH (06603) Subsidiary Enters Foreign Exchange Contract with Citibank

Stock News

Sep 18

IFBH (06603) announced that on September 18, 2025, the company's wholly-owned subsidiary IFB Singapore entered into a foreign exchange contract with Citibank to hedge Singapore Dollar/Thai Baht/US Dollar currency risks. Following Citibank's internal approval, IFB Singapore may enter into foreign exchange transactions with Citibank with a notional amount of up to approximately US$10 million as of the date of this announcement. The functional currency of the Group's trading entity IFB Singapore is the US Dollar. The Group faces transactional currency risks arising from sales or purchases denominated in currencies other than the respective functional currencies of its entities. Such transactions are primarily denominated in Thai Baht. The foreign exchange contract enables the Group to manage currency risks arising from IFB Singapore's business operations.

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