GEM's (SHE:002340) Indonesian subsidiaries will change their functional currency to the renminbi from the U.S. dollar, according to a Monday filing with the Shenzhen bourse.
The subsidiaries use the U.S. dollar as a functional currency and the renminbi as the internal transaction currency, leading to substantial gains or losses.
The change will help the subsidiaries with "more reliable" accounting information, GEM said.
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