Page 126 - HRC_Annual_Report_2023

124 About HRC Value Creation Management Discussion Leadership
& Analysis

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

4 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)
(c) Liquidity and cash flow risks (continued)
All financial liabilities of the Company that will be due and payable within the next 12 months are classified within
current liabilities. The contractual cash flows of derivative financial liabilities and non-derivative financial liabilities are
presented below:
Total
Between Between contractual Total
Within 1 to 2 to undiscounted carrying
1 year 2 years 5 years cash flows amount
At 31 December 2023 RM’000 RM’000 RM’000 RM’000 RM’000
Non-derivative financial liabilities
Trade and other payables excluding
statutory liabilities and prepaid income 2,324,379 - - 2,324,379 2,324,379
Lease liabilities 768 162 - 930 912
Amounts due to penultimate holding
company and related company 11,965 - - 11,965 11,965
Borrowings 1,245,491 160,700 391,466 1,797,657 1,720,881
3,582,603 160,862 391,466 4,134,931 4,058,137

Derivative financial liabilities (Note 19)
Refining margin swap contracts 149,887 - - 149,887 149,887
Commodity swap contracts 10,712 - - 10,712 10,712
Forward foreign currency contracts 10,068 - - 10,068 10,068

170,667 - - 170,667 170,667
3,753,270 160,862 391,466 4,305,598 4,228,804

At 31 December 2022
Non-derivative financial liabilities
Trade and other payables excluding
statutory liabilities 2,709,874 - - 2,709,874 2,709,874
Lease liabilities 7,278 667 225 8,170 8,105
Amounts due to penultimate holding
company, immediate holding company
and related company 16,419 - - 16,419 16,419
Borrowings 1,042,255 126,713 546,886 1,715,854 1,608,947
3,775,826 127,380 547,111 4,450,317 4,343,345

Derivative financial liabilities (Note 19)
Refining margin swap contracts 724,519 115,282 - 839,801 839,801
Commodity swap contracts 40,158 - - 40,158 40,158
Forward foreign currency contracts 12,659 - - 12,659 12,659
777,336 115,282 - 892,618 892,618
4,553,162 242,662 547,111 5,342,935 5,235,963