MISC Annual Report 2019

36. FAIR VALUE DISCLOSURES Fair value information The carrying amounts of cash and cash equivalents, short term receivables and payables and short term borrowings reasonably approximate their fair values due to the relatively short term nature of these financial instruments. The carrying amounts of floating rate loans and borrowings reasonably approximate their fair values as they are repriced to market interest rates on or near the reporting date. The following table analyses assets and liabilities carried at fair value and those not carried at fair value, together with their fair values and carrying amounts shown in the statements of financial position. Fair value of assets and liabilities carried at fair value Note Level 1 Level 2 Level 3 Total RM’000 RM’000 RM’000 RM’000 Group At 31 December 2019 Financial assets: Quoted equity investment 19(a) 47,255 – – 47,255 Unquoted equity investments 19(a) – – 65,137 65,137 47,255 – 65,137 112,392 Non-financial assets: Non-current assets classified as held for sale 24 – – 125,278 125,278 Financial liabilities: Forward currency contract 19(b) – (1,560) – (1,560) Interest rate swaps designated as hedging instruments 19(b) – (158,360) – (158,360) – (159,920) – (159,920) At 31 December 2018 Financial assets: Quoted equity investment 19(a) 47,786 – – 47,786 Unquoted equity investments 19(a) – – 73,864 73,864 Interest rate swaps designated as hedging instruments 19(b) – 8,185 – 8,185 47,786 8,185 73,864 129,835 Financial liabilities: Interest rate swaps designated as hedging instruments 19(b) – (5,836) – (5,836) 36. FAIR VALUE DISCLOSURES (CONT’D.) Fair value information (cont’d.) Fair value of financial instruments not carried at fair value Carrying Note Level 1 Level 2 Level 3 Total amount RM’000 RM’000 RM’000 RM’000 RM’000 Group At 31 December 2019 Financial assets: Long term receivables 19(a) – – 96,453 96,453 113,511 Finance lease receivables 19(d) – – 15,364,445 15,364,445 15,007,971 – – 15,460,898 15,460,898 15,121,482 Financial liabilities: Term loans - fixed rate 19(c) – (6,460,927) – (6,460,927) (7,009,714) At 31 December 2018 Financial assets: Long term receivables 19(a) – – 98,789 98,789 122,964 Finance lease receivables 19(d) – – 15,871,938 15,871,938 16,377,390 – – 15,970,727 15,970,727 16,500,354 Financial liabilities: Term loans - fixed rate 19(c) – (1,390,895) – (1,390,895) (1,569,752) NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 NOTES TO THE FINANCIAL STATEMENTS 31 December 2019 FINANCIAL STATEMENTS MISC BERHAD PEOPLE. PASSION. POSSIBILITIES ANNUAL REPORT 2019 344 345

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