66 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 4 FINANCIAL RISK MANAGEMENT (CONTINUED) (a) Financial risk management policies (continued) Market risk (continued) (iii) Finance rate risk (continued) The finance rate profile of the Group’s and Company’s finance bearing financial liabilities, based on carrying amounts as at the end of the reporting period is as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Financial liabilities At fixed rate Loans due to ultimate holding company - 333,316 - 333,316 Loans due to subsidiaries - - 973,764 811,034 Sukuk 796,773 497,374 796,773 497,374 Islamic short term trade financing 1,430,285 1,222,040 - - Short term trade financing 567,148 399,371 - - Hire purchase 105,330 49,983 571 - Islamic term loans 21,976 13,424 - - 2,921,512 2,515,508 1,771,108 1,641,724 At floating rate (exposed to cash flow finance rate risk) Islamic term loans 411,290 543,452 - - Sukuk 100,000 - 100,000 - At fair value (exposed to cash flow finance rate risk) LLA liability 3,513,813 3,680,354 - - 4,025,103 4,223,806 100,000 - 6,946,615 6,739,314 1,871,108 1,641,724 If discount rate on LLA liability increased/decreased by 50 basis points and finance rate on borrowings decreased/increased by 100 basis points with all other variables held constant, the profit after tax of the Group will increase by RM100,828,000 (2022: RM140,773,000) and decrease by RM112,997,000 (2022: RM157,240,000) respectively. Other financial assets and financial liabilities are non-interest bearing, and therefore are not affected by changes in finance rates.
RkJQdWJsaXNoZXIy NDgzMzc=