140 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 CONT’D 21. OTHER INVESTMENTS (Cont’d) (a) The Group’s and Company’s other investments are classified as financial assets measured at fair value through profit or loss. These are strategic investments for which the Company considers this classification to be appropriate and relevant. (b) Unquoted unit trust in Malaysia held by the Group and the Company comprises money-market fund which is highly liquid, readily convertible to cash and are subject to insignificant risk of changes in value and hence, meet the definition to be classified as cash and cash equivalents. (c) Quoted shares in Malaysia of the Group are categorised as Level 1 in the fair value hierarchy. The fair value of quoted shares is determined by reference to exchange quoted market prices at the end of the reporting period. (d) Unquoted unit trust in Malaysia of the Group and of the Company are categorised as Level 2 in the fair value hierarchy. The fair value of investment is determined by reference to the counter party quotes at the close of the business at the end of the reporting period. (e) Other investments are denominated in RM. (f) The following table shows a reconciliation of Level 1 fair value of other investment: Group Company 2021 2020 2021 2020 RM RM RM RM Balance as at 1 January - - - - Addition 26,750 - - - Balance as at 31 December 26,750 - - - (g) The following table shows a reconciliation of Level 2 fair values of other investments: Group Company 2021 2020 2021 2020 RM RM RM RM Balance as at 1 January 64,809,567 53,270,574 60,016,520 42,164,039 Addition 107,050,000 97,200,000 107,050,000 89,200,000 Interest received 2,372,323 1,777,320 2,260,881 1,503,240 Disposal (72,011,411) (87,342,431) (72,011,411) (72,740,627) Fair value changes (641,777) (95,896) (582,668) (110,132) Balance as at 31 December 101,578,702 64,809,567 96,733,322 60,016,520 (h) Information on financial risk of investment is disclosed in Note 33 to the financial statements.
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