FGV Annual Report 2017

ANNUAL INTEGRATED REPORT 2017 FINANCIAL STATEMENTS 271 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 33 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Group 2017 2016 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 317,380 717 - - - - Current Foreign currency forward contracts 407,996 6,875 497 879,597 80 19,237 Oil palm futures contracts 61,432 - 542 379,114 5,409 197 469,428 6,875 1,039 1,258,711 5,489 19,434 786,808 7,592 1,039 1,258,711 5,489 19,434 The Group classifies derivative financial instruments as financial assets/liabilities at fair value through profit or loss except for Islamic profit rate swap which is used for cash flow hedge. The notional amount of contracts outstanding are as follows: 2017 2016 Foreign currency forward contracts USD90,989,199 USD199,755,226 Palm oil futures contracts 24,250 MT 123,475 MT 34 DEPOSITS, CASH AND BANK BALANCES Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Fixed deposits in: - Licensed banks 1,182,545 861,168 11,609 38,118 - Licensed financial institutions 144,155 450,658 29,230 36,367 1,326,700 1,311,826 40,839 74,485 Cash and bank balances 413,958 542,228 7,033 4,712 Deposits, cash and bank balances 1,740,658 1,854,054 47,872 79,197 Less: Restricted cash (47,340) - - - Cash and cash equivalents 1,693,318 1,845,054 47,872 79,197