7 177 176 Notes to the Financial Statements Notes to the Financial Statements 14. PREPAYMENTS AND OTHER ASSETS Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Prepayments 50,582 55,011 357 756 Other assets 15,523 20,476 28 28 66,105 75,487 385 784 15. DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) 2023 2022 Nominal value RM’000 Assets RM’000 Liabilities RM’000 Nominal value RM’000 Assets RM’000 Liabilities RM’000 Group Derivatives at fair value through profit or loss - Commodity future contracts - - - 3,808 - (441) Derivatives used for hedging - Cross currency swap 341,286 22,024 - 549,586 3,873 - - Forward exchange contracts 89,977 2,092 (52) 149,073 175 (49) - Interest rate swap 59,601 1,527 - 102,736 233 - 490,864 25,643 (52) 805,203 4,281 (490) Company Derivatives used for hedging - Cross currency swap 341,286 22,024 - 549,586 3,873 - - Interest rate swap 59,601 1,527 - 102,736 233 - 400,887 23,551 - 652,322 4,106 - The commodity future contracts were entered into with the objective of managing and hedging the Group’s exposure to adverse commodity price movements. The cross currency swap and interest rate swap contracts of the Group and of the Company are mainly used to hedge against its exposures of foreign currency and movements in interest rates. Forward exchange contracts are used to manage the foreign currency exposures arising from the Group’s receivables and payables denominated in currencies other than the functional currencies of Group entities. Most of the forward exchange contracts have maturities of less than one year after the end of the reporting period. Where necessary, the forward contracts are rolled over at maturity. 16. CASH AND CASH EQUIVALENTS Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Cash and bank balances 323,060 420,535 17,110 13,920 Deposits with licensed banks 16.1 15,590 35,414 316 310 Liquid investments 16.2 7,849 25,182 859 685 346,499 481,131 18,285 14,915 16.1 Deposits with licensed banks Included in the deposits with licensed banks of the Group is RM190,000 (2022: RM186,000) pledged to a licensed bank as security for banking facilities granted to the Group (see Note 19.1). 16.2 Liquid investments The liquid investments represent investments in unit trust funds which primarily invest in money market instruments. The Directors regard the liquid investments as cash equivalents in view of its high liquidity and insignificant risk of changes in value. 17. ASSETS CLASSIFIED AS HELD FOR SALE Assets classified as held for sale comprise land, building and right-of-use assets with the intention to sell. Efforts to sell the assets have commenced, and the sale is expected to complete within next financial year. As at end of reporting period, the assets classified as held for sale are as follows: Note Group 2023 RM’000 2022 RM’000 Property, plant and equipment Cost As at 1 April 2022/2021 88,928 2,479 Transfer (to)/from property, plant and equipment 3 (58,239) 86,449 Disposal (28,210) - As at 31 March 2,479 88,928 Accumulated depreciation As at 1 April 2022/2021 (50,935) - Transfer to/(from) property, plant and equipment 3 50,935 (50,935) - (50,935) 2,479 37,993 Right-of-use assets As at 1 April 2022/2021 9,288 2,066 Transfer (to)/from right-of-use assets 4 (7,222) 7,222 2,066 9,288 Investment property As at 1 April 2022/2021 2,357 - Transfer from investment property 5 - 2,357 2,357 2,357 Carrying amount 6,902 49,638
RkJQdWJsaXNoZXIy NTkwNzg=