NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 45 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED) Liquidity risk (continued) Within 1 year More than 1 year and less than 2 years More than 2 years and less than 5 years More than 5 years Total contractual undiscounted cash flows Total carrying amount Group RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2021 Non-derivative financial liabilities Lease liabilities 29,660 28,761 61,539 219,975* 339,935 243,067 Trade and other payables 319,635 39 - - 319,674 319,674 Amounts owing to joint ventures 1,610 - - - 1,610 1,610 Loans and borrowings 665,274 29,939 79,735 999 775,947 754,394 Dividend payable 19,875 - - - 19,875 19,875 1,036,054 58,739 141,274 220,974 1,457,041 1,338,620 Derivative financial liabilities Forward currency contracts Gross settled - outflow 119,114 - - - 119,114 - inflow (118,581) - - - (118,581) 533 - - - 533 533 1,036,587 58,739 141,274 220,974 1,457,574 1,339,153 * Lease liabilities with maturity of more than 5 years comprise of lease terms up to 11 years. Within 1 year Total contractual undiscounted cash flows Total carrying amount Company RM’000 RM’000 RM’000 2022 Non-derivative financial liabilities Financial guarantees** 317,053 317,053 - Other payables and accruals 2,361 2,361 2,361 Amounts owing to subsidiaries 22,410 22,410 22,410 Loans and borrowings 62,840 62,840 59,714 404,664 404,664 84,485 ** This represents the maximum exposure to the Company in the event that the financial guarantee contracts issued by the Company to its subsidiaries are called upon. These liabilities have been included in the consolidated statement of financial position of the Group and hence will not result in any additional liability to the Group. Annual Report 2022 Wah Seong Corporation Berhad 203
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