interest rate risk The interest rate profile of the Group’s and of the Company’s significant interest-bearing financial instruments, based on carrying amounts as at the end of the financial year were: Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Fixed rate instruments: Financial assets 16,182.5 2,890.0 13,297.2 923.6 Financial liabilities 88,498.4 95,678.8 98,964.7 110,037.0 Floating rate instrument: Financial liabilities 4,132.7 1,481.8 0 0 The financial assets are not sensitive to interest rate changes. A 5.0% change in the interest rates of the financial liabilities with floating interest rates at the end of the financial year would have affected the Group’s and the Company’s profit or loss and equity by RM0.7 million (2022: RM0.1 million). This analysis assumes that all other variables, in particular foreign currency rates remainedconstant. (iii) Other price risk Other price risk arises from the Group’s and the Company’s investments in equity security, debt security and unit trust funds. Risk management objectives, policies and processes for managing the risk The Group and the Company are exposed to price risk because the investments held are classified on the statement of financial position as FVOCI and FVTPL. The Group and the Company mainly invest in unit trust funds, primarily in short term deposits as underlying instruments with minimal price risk. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 333 45 FINANCIAL INSTRUMENTS (CONTINUED) (b) Financial risk management (continued) Fair value of financial instruments The carrying amounts of deposits, bank and cash balances, short term receivables and payables, short term borrowings, short term amount due from/(to) subsidiaries and short term derivative financial instruments approximate their fair values and are equivalent to nominal values due to the relatively short term nature of these financial instruments. The table below analyses financial instruments carried at fair value and those not