Religare Health Trust issues clarification on forex risks article

They just entered into forward contracts.

According to an SGX release, the Board of Directors of Religare Health Trust Trustee Manager Pte. Ltd. refers to the article entitled “Religare Health Trust says it has hedged against forex risks” on page 7 of The Business Times today (Tuesday, 23 October 2012).

The article contains the following:

"The trust has put in place forward contracts to hedge its Indian rupee cash flows into the Singapore dollar thereby mitigating the currency risk and consequent risk to distribution per unit," it said in an emailed statement yesterday.

The Trustee-Manager would like to clarify that it has entered into forward contracts to convert Indian Rupees into Singapore dollars for the cash flows it expects to receive from the companies in its portfolio for the financial years ending 31 March 2013 and 31 March 2014.