Maxis Berhad | Annual Report 2013

Maxis Berhad | Annual Report 2013 156 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 and financing needs as and when they fall due, 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 2013 Payables and accruals (2) - principal 1,599,262 1,227,642 74,214 204,346 93,060 - interest (3) 22,006 5,905 5,405 9,325 1,371 Amounts due to fellow subsidiaries 3,648 3,648 – – – Amounts due to related parties 23,225 23,225 – – – Loan from a related party - principal 28,875 – 28,875 – – - interest (3) 4,257 – 4,257 – – Finance lease liabilities 21,653 7,878 6,509 7,266 – Bank borrowings (2) - principal 5,040,829 905,591 811,181 1,241,353 2,082,704 - interest (3) 622,458 116,922 88,899 202,574 214,063 Islamic Medium Term Notes - nominal value 2,450,000 – – – 2,450,000 - profit (3) 1,041,754 121,829 122,500 367,836 429,589 Net settled derivative financial instruments (CCIRS and IRS) (2)(3) 394,090 122,901 114,333 151,759 5,097 11,252,057 2,535,541 1,256,173 2,184,459 5,275,884 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 rates/profit margin as at the reporting date. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2013 Continued