Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 175 FINANCIAL STATEMENTS CORPORATE GOVERNANCE ANALYSIS OF SHAREHOLDINGS OTHER INFORMATION ANNUAL GENERAL MEETING 33 FINANCIAL RISK MANAGEMENT (CONTINUED) (c) Liquidity risk The objectives of the Group’s and of the Company’s liquidity risk management policies are to monitor rolling forecasts of the Group’s and of the Company’s liquidity requirements to ensure they have sufficient cash to meet operational needs, availability of funding by keeping committed credit lines and to meet external covenant compliance. Surplus cash held is invested in interest bearing money market deposits and time deposits. The Group and the Company are exposed to liquidity risk where there could be difficulty in raising funds to meet commitments associated with financial instruments. The undiscounted contractual cash flow payables under the financial instruments as at the reporting date are as follows: Group Total (1) < 1 year 1-2 years 2-5 years > 5 years RM’000 RM’000 RM’000 RM’000 RM’000 At 31 December 2012 Payables and accruals (2) - principal 1,697,193 1,578,906 11,382 71,245 35,660 - interest (3) 7,377 1,453 1,518 3,899 507 Amounts due to related parties 25,928 25,928 – – – Amounts due to fellow subsidiaries 29 29 – – – Loan from a related party - principal 33,060 – – 33,060 – - interest (3) 12,514 – – 12,514 – Finance lease liabilities 7,663 2,411 2,411 2,841 – Bank borrowings (2) - principal 4,310,236 – 378,489 1,915,386 2,016,361 - interest (3) 696,712 99,924 98,545 225,468 272,775 Islamic Medium Term Notes - nominal value 2,450,000 – – – 2,450,000 - profit (3) 1,164,925 122,500 122,500 367,836 552,089 Net settled derivative financial instruments (CCIRSs and IRSs) (2)(3) 744,926 112,600 151,851 389,517 90,958 11,150,563 1,943,751 766,696 3,021,766 5,418,350 Notes: (1) As the amounts included in the table are the contractual undiscounted cash flows, these amounts will not reconcile with the amounts disclosed in the statements of financial position. (2) Foreign denominated financial instruments are translated to RM using closing rate as at the reporting date. (3) Based on contractual interest rate/profit margin as at the reporting date.