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Axiata Group Berhad | Annual Report 2016
FINANCIAL STATEMENTS
198
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
19. DERIVATIVE FINANCIAL INSTRUMENTS
Note
Group
2016
2015
Assets
RM’000
Liabilities
RM’000
Assets
RM’000
Liabilities
RM’000
Non-current
Non-hedging derivative financial instruments:
- CCIRS
(a)
61,567
-
72,330
-
- Call spread options
(b)
107,867
-
46,751
-
- Convertible warrants in an associate
(c)
8,343
-
8,343
-
- Put option over shares held by NCI
(d)
-
(1,165,420)
-
-
177,777
(1,165,420)
127,424
-
Derivative designated as hedging instruments:
- CCIRS
(f),(g)
220,541
-
101,807
-
- IRS
(h)
-
(437)
-
(743)
Total non-current
398,318
(1,165,857)
229,231
(743)
Current
Non-hedging derivative financial instruments:
- CCIRS
(a)
-
-
113,251
-
- Put option over shares held by NCI
(e)
-
(157,010)
-
(172,753)
-
(157,010)
113,251
(172,753)
Derivative designated as hedging instruments:
- IRS
(h)
-
(465)
-
(359)
- CCIRS
(f)
2,735
(5,175)
-
-
Total current
2,735
(162,650)
113,251
(173,112)
Total
401,053
(1,328,507)
342,482
(173,855)
Non-hedging derivatives are classified as current/non-current assets or liabilities. The full fair value of a hedging derivative is classified as a non-
current asset or liability if the remaining maturity of the hedged item is more than twelve (12) months and, as a current asset or liability, if the
maturity of the hedged items is less than twelve (12) months.
Non-hedging derivatives financial instruments
(a) Cross currency interest rate swaps
The information relating to the derivative financial instruments of a subsidiary of the Group as at 31 December 2016 is as follows:
Counterparties
Notional
amount
USD’ million
Period
Swap
amount
IDR’ billion
Exchange
period
Fixed
interest
rate paid
Exchange
rate per
1USD:
Interest
rate received
Standard Chartered
Bank
50.0 13 June 2013 -
13 June 2018
495.9
Quarterly
7.60% IDR9,918
Fixed rate
2.3%