Notes to the Financial Statements For the financial year ended 31 December 2024 32 FINANCIAL RISK MANAGEMENT (continued) (d) Liquidity risk (continued) At 31 December 2024, the Group held the following instruments to hedge exposures to changes in foreign currency and interest rates: Carrying amount Changes in fair value used for calculating hedge ineffectiveness Contractual notional amount Assets/ (Liabilities) Financial statement line item Hedging instrument Hedged item Hedge ineffectiveness recognised in profit or loss Weighted average hedge forex rate/ interest rate (%) Maturity date $’M $’M $’M $’M $’M The Group 31 December 2024 Cashflow hedges Foreign exchange risk – Cross currency swaps to hedge foreign currency borrowings 645 (2) Derivative financial instruments (6) 6 * RMB: SGD0.185 JPY: SGD0.0009 April 2025 to November 2029 Interest rate risk – Interest rate swaps to hedge floating rate borrowings 2,658 (3) Derivative financial instruments 4 (4) * 2.78% May 2025 to June 2028 Net investment hedges Foreign exchange risk – Borrowings to hedge net investments in foreign operations – (382) Borrowings 2 (2) – AUD: SGD0.867 RMB: SGD0.187 March 2027 to April 2028 – Forward contracts to hedge net investments in foreign operations 97 5 Derivative financial instruments 5 (5) – KRW: SGD0.001 July 2026 * Less than $1 million 182 CapitaLand Investment Limited Notes to the Financial Statements For the financial year ended 31 December 2024 32 FINANCIAL RISK MANAGEMENT (continued) (d) Liquidity risk (continued) Carrying amount Changes in fair value used for calculating hedge ineffectiveness Contractual notional amount Assets/ (Liabilities) Financial statement line item Hedging instrument Hedged item Hedge ineffectiveness recognised in profit or loss Weighted average hedge forex rate/ interest rate (%) Maturity date $’M $’M $’M $’M $’M The Group 31 December 2023 Cashflow hedges Foreign exchange risk – Cross currency swaps to hedge foreign currency borrowings 326 7 Derivative financial instruments 6 (6) – USD: SGD1.350 JPY: SGD0.0108 April 2024 to November 2029 – Forward contracts to hedge foreign currency receivable 356 8 Derivative financial instruments (1) 2 1 KRW: SGD0.001 USD: SGD1.357 February 2024 to October 2024 Interest rate risk – Interest rate swaps to hedge floating rate borrowings 3,702 18 Derivative financial instruments (37) 37 – 2.362% February 2024 to June 2028 Net investment hedges Foreign exchange risk – Borrowings to hedge net investments in foreign operations – (647) Borrowings 7 (7) – JPY: SGD0.0093 EUR: SGD1.465 GBP: SGD1.677 AUD: SGD0.902 April 2024 to April 2028 – Forward contracts to hedge net investments in foreign operations 458 3 Derivative financial instruments (5) 5 – USD: SGD1.350 RMB: SGD0.186 JPY: SGD0.0093 EUR: SGD1.448 MYR: SGD0.289 January 2024 to September 2024 – Cross currency swaps to hedge net investments in foreign operations 687 68 Derivative financial instruments 36 (36) – JPY: SGD0.0100 EUR: SGD1.491 March 2024 to September 2028 183 Annual Report 2024
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