Press Metal Aluminium Holdings Berhad SECTION 6 • FINANCIAL STATEMENTS 302 Notes to the Financial Statements 28. FINANCIAL INSTRUMENTS (CONT’D) 28.2 Net gains and losses arising from financial instruments Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Net gains/(losses) on: Financial liabilities at fair value through profit or loss: - Mandatorily required by MFRS 9 (47,697) (3,717) (24,867) 5,163 Financial assets at amortised cost 40,142 15,779 123,167 111,208 Financial liabilities at amortised cost (244,311) (272,880) (136,880) (202,892) Derivatives used for hedging - Recognised in other comprehensive income 610,605 (449,581) 58,099 (64,079) Financial liabilities used for hedging - Recognised in other comprehensive income 53,188 (4,301) - - 411,927 (714,700) 19,519 (150,600) 28.3 Financial risk management The Group has exposure to the following risks from its use of financial instruments: • Credit risk • Liquidity risk • Market risk 28.4 Credit risk Credit risk is the risk of a financial loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group’s exposure to credit risk arises principally from the individual characteristics of each customer. The Company’s exposure to credit risk arises principally from loans and advances to subsidiaries and financial guarantees given to banks for credit facilities granted to subsidiaries. There are no significant changes as compared to prior periods.
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