NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C16 Derivative financial instruments (continued) Cash flow hedges (continued) The amounts relating to items designated as hedging instruments and hedge ineffectiveness are as follows: 2022 Group Nominal amount $’000 Assets $’000 Liabilities $’000 Line item in the statement of financial position where the hedging instrument is included Foreign currency risk Forward exchange contracts 1,375,731 24,164 (40,478) Derivative financial instruments, advances and other receivables and trade payables and accruals Embedded derivatives 133,784 – (8,911) Interest rate risk Interest rate swaps (a) 468,850 16,506 (2,951) Derivative financial instruments Treasury lock – – – 210 ST ENGINEERING ANNUAL REPORT 2022
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