NOTES TO THE FINANCIAL STATEMENTS Cont’d 29. Financial instruments cont’d 29.6 Market risk cont’d 29.6.1 Currency risk cont’d Exposure to foreign currency risk The Group’s exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk, based on carrying amounts as at the end of the reporting period is as follows: Group Functional currency RM RM RM RM RM RMB RMB RMB RMB AUD HKD HKD Foreign currency AUD RMB SGD USD EUR USD EUR GBP SGD USD USD RMB RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2022 Balances recognised in the statement of financial position Trade and other receivables 41,634 12,184 - 765,685 17,529 - - - - - - - Cash and cash equivalents 140,525 11,809 3,223 175,189 271 8,847 1,225 16,512 1,602 - 2,147 468 Loans and borrowings - (299,053) - (1,646,887) (46,846) (55,107) - (37,859) - - - - Trade and other payables (78,099) - - (259,669) (18) - - (9,101) - - - - 104,060 (275,060) 3,223 (965,682) (29,064) (46,260) 1,225 (30,448) 1,602 - 2,147 468 Forecast transaction Net derivative assets - Cross currency swaps - - - 2,550,000 - - - - - - - - Forecast loan repayment - - - (2,550,000) - - - - - - - - Net derivative liabilities - Commodity swaps and options - - - 6,057,918 - - - - - - - - Net derivative assets - Forward exchange contracts on forecast sales 5,741 - - 14,085,772 - 453,011 - - - 310,593 - - Forecast sales (5,741) - - (19,997,611) - (453,011) - - - (310,593) - - - - - 146,079 - - - - - - - - Net exposure 104,060 (275,060) 3,223 (819,603) (29,064) (46,260) 1,225 (30,448) 1,602 - 2,147 468 ANNUAL REPORT 2022 292
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