NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 22. Financial risk management objectives and policies (cont’d) (b) Liquidity risk (cont’d) Analysis of financial instruments by remaining contractual maturities (cont’d) On demand or within One to More than one year five years five years Total RM RM RM RM Fund As at 31 December 2022 Financial liabilities Other payables 24,543,917 4,244,681 10,032,142 38,820,740 Islamic financing 37,967,407 680,374,555 305,479,274 1,023,821,236 62,511,324 684,619,236 315,511,416 1,062,641,976 As at 31 December 2021 Financial liabilities Other payables 20,259,662 3,875,364 9,761,667 33,896,693 Islamic financing 22,924,406 469,751,406 314,434,192 807,110,004 43,184,068 473,626,770 324,195,859 841,006,697 (c) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of the Group’s and of the Fund’s financial instruments will fluctuate because of changes in the market interest rates. The Group and the Fund manage their financing rate exposure by maintaining a prudent mix of fixed and floating rate of borrowings. The Group and the Fund place cash deposits on short-term basis and therefore this allows the Group and the Fund to respond to significant changes of financing rate promptly. The interest rate mentioned below will have an impact on the management of the Group and the Fund, regardless of whether it is an Islamic fund or otherwise. It does not in any way suggest that the Group and the Fund will invest in conventional financial instruments. All the investments and placements carried out for the Group and the Fund are in accordance with Shariah requirements. Sensitivity analysis for profit rate risk At the end of the reporting period, a change of 25 basis points (“bp”) in financing rates would have increased/ (decreased) profit before tax by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. 187 1. Corporate Overview 3. Strategic Performance 5. Governance Structure 2. The Driving Forces 4. Sustainability Statement 6. Financial Reports
RkJQdWJsaXNoZXIy NDgzMzc=