Financial Statements Financial Statements Press Metal Aluminium Holdings Berhad 294 295 Integrated Annual Report 2023 Notes to the Financial Statements Notes to the Financial Statements 28. FINANCIAL INSTRUMENTS (CONT’D) 28.7 Hedging activities (cont’d) 28.7.3 Cash flow hedge (cont’d) Company Maturity Under 1 year RM’000 1 - 2 years RM’000 2 – 5 years RM’000 More than 5 years RM’000 2023 Foreign currency risk Loans and borrowings 247,860 247,860 272,778 - Cross currency swaps Net exposure 550,000 500,000 200,000 250,000 Average MYR:USD cross currency swaps 4.464 4.424 4.327 4.153 2022 Foreign currency risk Loans and borrowings 237,060 237,060 380,670 - Cross currency swaps Net exposure - 550,000 700,000 250,000 Average MYR:USD cross currency swaps - 4.176 4.238 4.469 The amounts at the reporting date relating to items designated as hedged items were as follows: Cash flow hedge reserve RM’000 Balances remaining in the cash flow hedge reserve from hedging relationships for which hedge accounting is no longer applied RM’000 Group 2023 Foreign currency risk Forecast sales – Loans and borrowings (96,258) 5,652 Forecast sales – Forward exchange contracts (198,691) - Forecast loan repayments – Cross currency swaps (77,184) - Commodity price risk Forecast sales – Commodity swaps and options 85,412 - Total hedging reserve (286,721) Non-controlling interests share of hedging reserve 27,460 - Hedging reserve attributable to owners of the Company (259,261) 28. FINANCIAL INSTRUMENTS (CONT’D) 28.7 Hedging activities (cont’d) 28.7.3 Cash flow hedge (cont’d) Cash flow hedge reserve RM’000 Balances remaining in the cash flow hedge reserve from hedging relationships for which hedge accounting is no longer applied RM’000 Group 2022 Foreign currency risk Forecast sales – Loans and borrowings (91,955) (2,268) Forecast sales – Forward exchange contracts 278,652 - Forecast loan repayments – Cross currency swaps 12,946 - Commodity price risk Forecast sales – Commodity swaps and options (32,482) - Total hedging reserve 167,161 Non-controlling interests share of hedging reserve (46,109) - Hedging reserve attributable to owners of the Company 121,052 Company Foreign currency risk 2023 Forecast loan repayments – Cross currency swaps (52,598) - Company Foreign currency risk 2022 Forecast loan repayments – Cross currency swaps 11,481 -
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