MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 4 FINANCIAL RISK MANAGEMENT (CONTINUED) (c) Fair value estimation (continued) The following table presents the Group’s financial assets and liabilities that are measured at fair value at 31 December 2019 and 31 December 2018: Carrying amount Level 1 Level 2 Level 3 RM’000 RM’000 RM’000 RM’000 Group - Assets As at 31 December 2019 Financial assets at fair value through profit or loss Derivatives - Sugar futures contracts 2,388 2,388 - - - Foreign exchange forward contract 78 - 78 - As at 31 December 2018 Derivatives used for hedging: - Islamic profit rate swap 561 - 561 - Group - Liabilities As at 31 December 2019 Financial assets at fair value through profit or loss: Derivatives - Foreign exchange forward contract (10) - (10) - Derivatives used for hedging: - Islamic profit rate swap (4,968) - (4,968) - As at 31 December 2018 Financial assets at fair value through profit or loss: Derivatives - Sugar commodity options (630) - (630) - 155 FINANCIAL STATEMENTS 08