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Datasonic Group Berhad
(Company No. 809759-X)
148
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
(Continued)
46. FINANCIAL INSTRUMENTS (CONT’D)
46.4 FAIR VALUE INFORMATION (CONT’D)
(a) Fair Value of Financial Instruments Carried at Fair Value
(i) The fair values above have been determined using the following basis:-
(aa) The fair value of the club membership is estimated based on its market price.
(bb) The fair values of short-term investments are measured at their quoted closing
bid prices at the end of the financial year.
(ii) There were no transfer between level 1 and level 2 during the financial year.
(b) Fair Value of Financial Instruments not Carried at Fair Value
The fair values, which are for disclosure purposes, have been determined using the following
basis:-
(i)
The fair values of trade receivables (non-current) are determined using discounted
cash flows based on a risk-free rate of 3.75% (2015 - 3.75%).
(ii) The fair values of hire purchase payables, term financing and term loans are
determined by discounting the relevant cash flows using current market interest
rates for similar instruments at the end of the financial year/period. The interest rates
used to discount the estimated cash flows are as follows:-
Group
Company
2016
2015
2016
2015
%
%
%
%
Hire purchase
payables
4.53 to 4.75
4.53
4.53
4.53
Term financing 4.45 to 5.85 4.45 to 5.85 4.45 to 5.85 4.45 to 5.85
Term loans
4.45 to 5.85 4.45 to 5.85
–
–
47. COMPARATIVE FIGURES
On 28 February 2014, the Company has changed its financial year end from 31 December to 31
March effective from the previous reporting period. Consequently, the comparatives figures of a
15-month period ended 31 March 2015 for the statements of profit or loss and other comprehensive
income, statements of changes in equity, statements of cash flows and their related notes are not
comparable to the current 12 months ended 31 March 2016.