FGV Annual Report 2014

33 Derivative Financial Assets/(Liabilities) Group 2014 2013 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 885,391 529 15,271 1,012,476 1,841 13,631 Sugar futures contracts 2,217 38 – – – – Oil palm futures contracts 61,753 61 2,524 143,707 148 1,730 Rubber forward contracts 9,977 2,078 19 20,787 1,510 – Soy and canola future contracts 823,221 12,631 14,578 – – – 1,782,559 15,337 32,392 1,176,970 3,499 15,361 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 contracts outstanding are as follows: 2014 2013 Foreign currency forward contracts USD258,557,000 USD298,605,000 Sugar futures contracts 28,905 MT – Palm oil futures contracts 23,045 MT 54,603 MT Rubber forward contracts 1,333 MT 2,804 MT Soy and canola futures contracts 1,100,712 MT – Felda Global Ventures Holdings Berhad pg 290 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2014