<div id="readability-page-1"><div><p>(MT Newswires) -- IFBH (HKG:6603) said its Singapore unit entered into foreign exchange contracts with Citibank to hedge currency risks involving the US dollar, Thai baht, and Singapore dollar, according to a Thursday Hong Kong stock exchange filing.</p><p> Shares of the beverage maker fell over 4% in Friday morning trade.</p><p> Under the agreements, IFB Singapore may conduct FX transactions with Citibank up to a notional amount of about $10 million, subject to the bank's internal approvals.</p><p> The subsidiary will place $1 million in cash collateral.</p><p>The contracts, which cover FX forwards and options, will allow IFB Singapore to manage exposures from sales and purchases denominated in foreign currencies, the company said.</p></div></div>

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<p>IFBH's Singapore unit has signed $10 million foreign exchange hedging contracts with Citibank to mitigate currency risks related to the US dollar, Thai baht, and Singapore dollar. Following the announcement, IFBH shares dropped over 4% in morning trading. The contracts, which include FX forwards and options, will help manage foreign currency exposures from sales and purchases. A cash collateral of $1 million will be placed by the subsidiary, subject to Citibank's internal approvals.</p>

IFBH Unit Signs $10 Million FX Hedging Contracts With Citibank; Shares Slip 4%