FGV Audited Financial Statements 2020

30 DERIVATIVE FINANCIAL ASSETS/(LIABILITIES) Group 2020 2019 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 416,667 - 10,163 426,667 - 5,166 Current Foreign currency forward contracts 529,402 9,561 929 525,576 18,388 11 Palm oil futures contracts 306,257 4,500 - 219,240 - 29,255 835,659 14,061 929 744,816 18,388 29,266 1,252,326 14,061 11,092 1,171,483 18,388 34,432 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: 2020 2019 Foreign currency forward contracts USD129,378,817 USD124,227,695 Palm oil futures contracts 127,250 MT 84,700 MT 31 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (“FVOCI”) 2020 RM’000 2019 RM’000 Group At 1 January 107,434 86,224 Additions 3,521 8,034 Fair value changes 47,406 13,176 Disposals (14,007) - Currency translation differences (103) - At 31 December 144,251 107,434 Analysed as: Non-current 144,251 107,434 151 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 Audited Financial Statements 2020