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Notes to the Financial Statements
31 December 2015
33 FINANCIAL RISK MANAGEMENT (CONTINUED)
(e) Fair value estimation (continued)
(ii)
Financial instruments carried at fair value
The following table represents the assets and liabilities measured at fair value, using Level 2 valuation technique, at reporting date:
Group
Company
Note
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Derivative financial instruments
(CCIRS, IRS and forward foreign
exchange contracts):
- assets
777,324
244,452
777,101
244,452
- liabilities
-
(15,848)
-
(15,848)
22
777,324
228,604
777,101
228,604
The fair values of CCIRS and IRS are calculated as the present value of estimated future cash flow using an appropriate market-based
yield curve. The fair values of forward foreign exchange contracts are determined using forward exchange rates as at each reporting
date.
(f) Offsetting financial assets and financial liabilities
(i)
Financial assets
The following financial assets are subject to offsetting, enforceable master netting arrangements and similar arrangements.
Group
Gross
amounts of
recognised
financial
liabilities
set-off in the
statement
of financial
position
RM’000
Net
amounts of
financial
assets
presented
in the
statement
of financial
position
RM’000
Gross
amounts of
recognised
financial
assets
RM’000
Related amounts
not set-off in the statement
of financial position
Net
amount
RM’000
Financial
instruments
RM’000
Cash
collateral
received
RM’000
At 31 December 2015
Receivables and deposits
539,069 (146,679)
392,390
-
(35,160)
357,230
Amount due from a fellow subsidiary
111
(111)
-
-
-
-
Amounts due from related parties
48
(48)
-
-
-
-
539,228 (146,838)
392,390
-
(35,160)
357,230
