FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 280 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 33 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Group 2013 2012 Contract/ Contract/ Notional Notional Amount Assets Liabilities Amount Assets Liabilities RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 Foreign currency forward contracts 1,012,476 1,841 13,631 327,747 969 127 Sugar futures contracts - - - 13,359 561 - Oil palm futures contracts 143,707 148 1,730 101,634 3,659 1,541 Rubber forward contracts 20,787 1,510 - - - - 1,176,970 3,499 15,361 442,740 5,189 1,668 The Group classifies derivative financial instruments as financial assets/liabilities at fair value through profit or loss. None of the derivatives are designated as hedges as the Group did not apply hedge accounting during the financial year. The notional amount of foreign currency forward contracts outstanding as at 31 December 2013 is USD298,605,000 (2012: USD180,839,000). The notional amount of sugar futures contracts outstanding as at 31 December 2013 is nil (2012: 10,160MT). The notional amount of palm oil futures contracts outstanding as at 31 December 2013 is 54,603 MT (2012: 43,075MT). The notional amount of rubber forward contracts outstanding as at 31 December 2013 is 2,804 MT (2012: nil). 34 CASH AND CASH EQUIVALENTS Group Company 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Fixed deposits in: - Licensed banks 2,149,268 722,734 2,661 60 - Licensed financial institutions 2,391,046 4,742,038 1,898,012 4,179,552 - Government – linked financial institutions 91,925 - - - 4,632,239 5,464,772 1,900,673 4,179,612 Cash and bank balances 396,634 223,600 1,790 4,093 5,028,873 5,688,372 1,902,463 4,183,705 Less: Fixed deposits pledged - (15,369) - - Cash and cash equivalents 5,028,873 5,673,003 1,902,463 4,183,705 Included in fixed deposits in the previous year was an amount of RM Nil (2012: RM15,369,000) for the Group which has been pledged to a bank as security for bank guarantees granted to a subsidiary.