Page 98 - HRC_Annual_Report_2023

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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

Note 2023 2022
RM’000 RM’000
NON-CURRENT ASSETS
Property, plant and equipment 13 2,196,984 2,055,220
Intangible assets 14 4,764 7,369
Right-of-use assets 15 2,461 8,874
Deferred tax assets 27 138,801 290,794
2,343,010 2,362,257

CURRENT ASSETS
Inventories 16 1,391,361 1,501,868
Trade receivables 17 765,330 719,416
Other receivables and prepayments 18 69,240 571,899
Tax recoverable 19,372 15,222
Derivative financial assets 19 21,016 116,530
Bank balances 20 1,028,529 1,334,832
3,294,848 4,259,767

TOTAL ASSETS 5,637,858 6,622,024

CAPITAL AND RESERVES ATTRIBUTABLE TO OWNERS OF THE COMPANY
Share capital 21 300,000 300,000
Retained earnings 22 1,344,389 1,832,959
Cash flow hedge reserve 23 (97,195) (629,118)
Cost of hedging reserve 23 (15,740) (1,156)
Exchange translation reserve 23 (128,888) (128,888)

1,402,566 1,373,797

CURRENT LIABILITIES
Trade and other payables 24 2,330,867 2,720,572
Amounts due to penultimate holding company, immediate holding
company and related company 25 11,965 16,419
Lease liabilities 15 753 7,235
Contract liabilities 28 - 1,566
Derivative financial liabilities 19 170,667 777,336
Borrowings 26 1,216,366 1,004,703
3,730,618 4,527,831

NON-CURRENT LIABILITIES
Derivative financial liabilities 19 - 115,282
Lease liabilities 15 159 870
Borrowings 26 504,515 604,244
504,674 720,396
TOTAL EQUITY AND LIABILITIES 5,637,858 6,622,024

The accompanying notes to the financial statements form an integral part of these financial statements.