Basic HTML Version
245
Financial
Statements
& Others
Gamuda Berhad (29579-T)
Annual Report 2013
44. Financial risk management objectives and policies (cont’d.)
b. Liquidity risk (cont'd.)
2012
On demand
or within
One to
Over five
one year
five years
years
Total
RM'000
RM'000
RM'000
RM'000
Company
Financial liabilities:
Trade and other payables
56,200
-
-
56,200
Amount due to subsidiaries
168,304
-
-
168,304
Loans and borrowings
- Principal
1,008,237
501,505
-
1,509,742
- Interest
42,010
30,266
-
72,276
Derivatives-settled net
2,567
4,281
-
6,848
Total undiscounted financial liabilities
1,277,318
536,052
-
1,813,370
Hedging activities
The Group and the Company entered into interest rate swaps to hedge the cash flow risk in relation to the
floating interest rate on certain USD denominated borrowings. The interest rate swaps with contract value of
USD45,000,000, equivalent to RM145,584,000 (2012: USD45,000,000, equivalent to RM143,222,000) are
settled every quarterly.
The following table indicates the periods in which the cash flows are expected to occur for cash flow hedges:
Contractual
Within
cash flows
1 year
1 - 3 years
RM'000
RM'000
RM'000
Net cash outflows
4,400
2,645
1,755
The Group's hedging activities on the interest rate swaps are tested to be effective and during the year a net
gain of RM2,448,000 (2012: loss of RM1,471,000) was recognised in equity.
Notes to the Financial Statements
31 July 2013