ACCOUNTABILITY | NOTES TO THE FINANCIAL STATEMENTS 251 INTEGRATED ANNUAL REPORT 2026 37. FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS 2026 RM million 2025 RM million Non-current - Redeemable convertible preference shares 60 54 During the previous financial year, Green EV Charge Sdn Bhd (“GEVCSB”), a non-wholly owned subsidiary of the Company, entered into a Share Subscription Agreement for the issuance of 7,281,906 Redeemable Convertible Preference Shares (“RCPS”) and 24,273,022 RCPS to be subscribed by Yinson Green Technologies (M) Sdn Bhd (“YGTMSB”), a wholly owned subsidiary of the Company and Pantai Feringgi Ventures Sdn Bhd (“Pantai Feringgi”) respectively, for a total consideration of RM130 million. As at 31 January 2026, RM78 million (2025: RM78 million) worth of RCPS has been issued, with the remaining RCPS to be issued in tranche(s) within 18 months from the date of the first issuance. The RCPS, which are hybrid financial instruments and combine features of both debt and equity, entitle the holders to preferential rights over ordinary shareholders. The RCPS holders can exercise their option for conversion or redemption of the RCPS only in the occurrence of a Qualified Financing Round i.e. equity investment by new investor(s) in GEVCSB of not less than the pre-agreed amount in proceeds. Accordingly, the RCPS are classified as a financial liability as GEVCSB is obligated to settle the RCPS, either by redemption or conversion, upon the RCPS holder’s exercise of its rights. The RCPS are measured at fair value through profit or loss (“FVTPL”) as they include embedded conversion options that significantly affect the cash flows of the instrument and do not qualify for separate recognition. The fair value of FVTPL is determined by discounting cash flows discounted with current market lending rate and is classified within Level 3 of the fair value hierarchy. 38. DERIVATIVES Group 2026 2025 Assets RM million (Liabilities) RM million Assets RM million (Liabilities) RM million Hedging derivatives Current: - Foreign exchange forward contracts (Note (b)) - - - (1) - Interest rate swaps (Note (a)) 18 - 33 - 18 - 33 (1) Non-current: - Interest rate swaps (Note (a)) 121 (2) 309 - Non-hedging derivatives Non-current: - Warrants (Note (c)) - (25) - - Current 18 - 33 (1) Non-current 121 (27) 309 - 139 (27) 342 (1)
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