FGV Audited Financial Statements 2019

171 01 S E C T I O N NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 AUDITED FINANCIAL STATEMENTS 2019 30 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Group 2019 2018 Contract/ notional amount RM’000 Assets RM’000 Liabilities RM’000 Contract/ notional amount RM’000 Assets RM’000 Liabilities RM’000 Non-current Islamic profit rate swap 426,667 - 5,166 479,167 561 - Current Foreign currency forward contracts 525,576 18,388 11 116,912 3,706 630 Oil palm futures contracts 219,240 - 29,255 97,460 - 6,915 744,816 18,388 29,266 214,372 3,706 7,545 1,171,483 18,388 34,432 693,539 4,267 7,545 The Group classifies derivative financial instruments as financial assets/liabilities at fair value through profit or loss. The Islamic profit rate swap is accounted for as cash flow hedge. The notional amount of contracts outstanding are as follows: 2019 2018 Foreign currency forward contracts USD124,227,695 USD16,130,446 Palm oil futures contracts 84,700 MT 59,100 MT