Press Metal Aluminium Holdings Berhad SECTION 6 • FINANCIAL STATEMENTS 314 Notes to the Financial Statements 28. FINANCIAL INSTRUMENTS (CONT’D) 28.6 Market risk (cont’d) 28.6.1 Currency risk (cont’d) Exposure to foreign currency risk (cont’d) Company Functional currency Foreign currency RM USD RM’000 RM RMB RM’000 RM IDR RM’000 2024 Balances recognised in the statement of financial position Trade and other receivables 22 - - Cash and cash equivalents 95,284 49,841 36,347 Loans and borrowings (518,791) - - Trade and other payables (54) - - (423,539) 49,841 36,347 Forecast transaction Net derivative liabilities - Cross currency swaps 950,000 - - Forecast loan repayment (950,000) - - - - - Net exposure (423,539) 49,841 36,347 2023 Balances recognised in the statement of financial position Trade and other receivables 22 - - Cash and cash equivalents 106,554 62,180 - Loans and borrowings (839,567) - - (732,991) 62,180 - Forecast transaction Net derivative liabilities - Cross currency swaps 1,500,000 - - Forecast loan repayment (1,500,000) - - - - - Net exposure (732,991) 62,180 - Currency risk sensitivity analysis Foreign currency risk mainly arises from USD, RMB and IDR against RM. The exposure to other currencies is not material and hence, sensitivity analysis is not presented. A 10% (2023: 10%) strengthening of RM against the following currencies at the end of the reporting period would have increased/(decreased) equity and post-tax profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Group considered to be reasonably possible at the end of the reporting period. This analysis assumes that all other variables, in particular interest rates, remained constant and ignores any impact of forecasted transactions.
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