or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use. Qualifying assets are assets that necessarily takes substantial period of time to get ready for their intended use. Other borrowing costs are expensed in the period in which they are incurred. Accounting policy on finance charges for lease liabilities and government grants are disclosed in Notes 15 and Note 27, respectively. 36 FOREIGN EXCHANGE LOSS (CONTINUED) Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Foreign exchange loss comprises: Translation loss - foreign term loans (304.1) (280.5) (304.1) (280.5) Translation gain/(loss) - others 13.5 31.0 160.3 (46.3) T otal foreign exchange translation loss (290.6) (249.5) (143.8) (326.8) Transaction gain/(loss) - foreign termloans 1.3 (0.6) 1.3 (0.6) Transaction gain/(loss) - others 79.8 26.6 90.8 (0.8) (209.5) (223.5) (51.7) (328.2) 37 FINANCE INCOME/COST AND FAIR VALUE CHANGES OF FINANCIAL INSTRUMENTS NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 293 37 FINANCE INCOME/COST AND FAIR VALUE CHANGES OF FINANCIAL INSTRUMENTS (CONTINUED) Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million (b) Finance cost: Finance cost on: - Borrowings (Note 26) 2,947.4 2,692.5 1,369.2 1,247.8 - Lease liabilities (Note 15) 1,636.5 1,756.4 4,043.7 4,239.3 - Consumer deposits 197.0 183.8 187.7 175.1 - Others 16.5 24.1 143.1 52.8 Release of government grants (Note 27) (18.3) (24.8) 0 0 Less: Amount capitalised into PPE (448.0) (288.6) (275.0) (263.6) 4,331.1 4,343.4 5,468.7 5,451.4 (c) Fair value changes of financial instruments: (Loss)/Gain on changes in fair value of financial assets (46.8) 83.9 (3.1) (12.6) (Loss)/Gain on changes in fair value of financial liabilities (2.6) 46.8 2.0 (2.6) (49.4) 130.7 (1.1) (15.2) 38 TAXATION AND ZAKAT Accounting Policy (a) Income tax Current tax expense is determined by the expected income taxes payable in respect