Press Metal Annual Report 2022

NOTES TO THE FINANCIAL STATEMENTS Cont’d 29. Financial instruments cont’d 29.7 Hedging activities cont’d 29.7.3 Cash flow hedge cont’d Maturity Company Under 1 year 1 - 2 years 2 – 5 years More than 5 years RM’000 RM’000 RM’000 RM’000 2022 Foreign currency risk Loans and borrowings 237,060 237,060 380,670 - Cross currency swaps Net exposure - 550,000 700,000 250,000 Average MYR:USD cross currency swaps - 4.176 4.238 4.469 2021 Foreign currency risk Cross currency swaps Net exposure - - 1,450,000 430,000 Average MYR:USD cross currency swaps - - 4.191 4.214 The amounts at the reporting date relating to items designated as hedged items were as follows: Cash flow hedge reserve Balances remaining in the cash flow hedge reserve from hedging relationships for which hedge accounting is no longer applied RM’000 RM’000 Group 2022 Foreign currency risk Forecast sales – Loans and borrowings (91,955) (2,268) Forecast sales – Forward exchange contracts 278,652 - Forecast loan repayments – Cross currency swaps 12,946 - Commodity price risk Forecast sales – Commodity swaps and options (32,482) - Total hedging reserve 167,161 Non-controlling interests share of hedging reserve (46,109) Hedging reserve attributable to owners of the Company 121,052 ANNUAL REPORT 2022 300

RkJQdWJsaXNoZXIy NDgzMzc=