FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 283 01 02 05 03 07 06 04 08 09 ANNUAL INTEGRATED REPORT 2018 EXAMINED OUR NUMBERS 29 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Group 31.12.2018 31.12.2017 1.1.2017 Contract/ notional amount RM’000 Assets RM’000 Liabilities RM’000 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 479,167 561 - 317,380 717 - - - - Current Foreign currency forward contracts 116,912 3,706 630 407,996 6,875 497 879,597 80 19,237 Oil palm futures contracts 97,460 - 6,915 61,432 - 542 379,114 5,409 197 214,372 3,706 7,545 469,428 6,875 1,039 1,258,711 5,489 19,434 693,539 4,267 7,545 786,808 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: 31.12.2018 31.12.2017 1.1.2017 Foreign currency forward contracts USD16,130,446 USD90,989,199 USD199,755,226 Palm oil futures contracts 59,100 MT 24,250 MT 123,475 MT