or do not qualify for hedge accounting are recognised in the statement of profit or loss when the changes arise. Notional amount RM’million Assets RM’million Liabilities RM’million Note Non-hedge accounting qualified derivative financial instruments: Group 2023 Current Forward foreign currency contracts (a) 256.8 0 (1.4) Non-current Interest rate swap contracts (b) 1,129.1 71.3 (7.3) Profit rate swap contracts (c) 304.1 4.9 (3.2) Power purchase agreements (d) 211.5 91.8 0 1,644.7 168.0 (10.5) 2022 Current Forward foreign currency contracts (a) 106.3 0 (2.9) Interest rate swap contracts (b) 22.7 0.2 0 129.0 0.2 (2.9) Non-current Interest rate swap contracts (b) 744.2 64.0 (0.3) Profit rate swap contracts (c) 323.8 8.3 (2.0) 1,068.0 72.3 (2.3) Company 2023 Current Forward foreign currency contracts (a) 256.8 0 (1.4) 2022 Current Forward foreign currencycontracts (a) 106.3 0 (2.9) NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 252 19 DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED) (a) Forward foreign currency contracts The Group and the Company entered into forward foreign currency contracts with forward rates of RM4.5914 to RM4.6345 (2022: RM4.4997 to RM4.5447) for 1 US Dollar. (b) Interest rate swap (‘IRS’) contracts (i) IRS contracts - Tenaga Wind Ventures UK Ltd. (‘TWV’) The Group entered into two IRS contracts on 28 March 2018 that entitled TWV to receive interest at floating rates and obliged to pay interest at fixed rates of 1.3% per annum and 1.7% per annum on aggregate notional principal of GBP30.7 million and GBP89.3 million respectively. (ii) IRS contract - Vantage RE No. 1 Limited (‘VRE1’) The Group entered into an IRS contract on 16 December 2022 that entitled VRE1 to receive interest at floating rates and obliged to pay interest at fixed rates of 3.8% per annum on aggregate notional principal of GBP50.8 million. (iii) IRS contracts - Dullarbtons and Elipsgeen The Group entered into IRS contracts that entitled Dullarbtons, a wholly owned subsidiary