NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 18 AMOUNTS OWING BY/(TO) JOINT VENTURES (CONTINUED) (b) Amounts owing to joint ventures Group 2022 2021 RM’000 RM’000 Trade accounts 3,247 1,296 Non-trade accounts 246 314 3,493 1,610 Trade accounts are unsecured, interest free and repayable within 30 to 90 days. Non-trade accounts are unsecured, interest free and repayable on demand. The Group’s amounts owing to joint ventures exposure to foreign currency (a currency which is other than the functional currency of the Group entities) risk were: Group 2022 2021 RM’000 RM’000 - Japanese Yen 2,887 1,296 - China Reminbi 605 314 19 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Contract/ notional amount Assets Liabilities Group RM’000 RM’000 2022 Current Non-hedging derivatives Financial instruments at fair value through profit or loss - Forward currency contracts RM 66,856,300 USD 17,654,553 CNY 15,074,608 SGD 12,225,800 EUR 1,605,000 82 (2,627) 2021 Current Non-hedging derivatives Financial instruments at fair value through profit or loss - Forward currency contracts RM 33,817,461 USD 17,323,133 CNY 10,344,400 SGD 5,591,700 EUR 2,320,143 135 (533) The Company did not hold any derivative financial instruments as at 31 December 2022 (2021: nil). Wah Seong Corporation Berhad Annual Report 2022 172
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