21. Fair values of financial instruments (Cont’d) The carrying amount of the various financial assets and financial liabilities reflected in the statements of financial position approximate their fair values other than as disclosed below (Cont’d): Carrying Fair amount value RM RM Group (Cont’d) At 31 December 2023 Financial liability at amortised cost Islamic financing - non-current 521,681,074 453,864,788 Islamic financing - current 117,934,325 116,685,992 639,615,399 570,550,780 Fund At 31 December 2024 Financial liability at amortised cost Islamic financing - non-current 187,526,884 171,447,125 Amount due to a subsidiary - non-current 405,104,258 370,768,870 Amount due to a subsidiary - current 45,500,000 45,088,159 638,131,142 587,304,154 At 31 December 2023 Financial liability at amortised cost Islamic financing - non-current 69,521,341 57,494,125 Islamic financing - current 117,934,325 116,685,992 Amount due to a subsidiary - non-current 448,837,893 396,370,663 636,293,559 570,550,780 The fair value of the non-current Islamic financing was estimated using discounted cash flow analysis based on market equivalent profit rate of 5.54% (2023: 3.53%) per annum for similar type of instruments of similar risk and cash flow profiles. The disclosure of the fair value of the non-current Islamic financing is considered a Level 2 fair value hierarchy disclosure. Notes to the Financial Statements - 31 December 2024 1 ABOUT US 231 3 SUSTAINABILITY STATEMENT 6 FINANCIAL STATEMENTS 2 BUSINESS OVERVIEW 4 CORPORATE GOVERNANCE 5 OTHER INFORMATION
RkJQdWJsaXNoZXIy NDgzMzc=