350 KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2025 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025 52. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D.) Fair value measurement (cont’d.) There have been no transfers between Level 1 and Level 2 during the financial years. The methods and assumptions used to estimate the fair value of the financial instruments not measured at fair value are as disclosed in Note 49. Movements in Level 3 financial instruments measured at fair value The level of the fair value hierarchy of financial instruments is determined at the beginning of each reporting period. The following table shows a reconciliation of the opening and closing amounts of Level 3 financial assets that were recorded at fair value: Group and Bank Equity securities at FVTPL RM’000 Equity securities at FVOCI RM’000 2025 Balance at the beginning of the financial year 157,220 1,421 Acquisition of investments during the financial year 16,600 - Revaluation gain during the financial year 92 (39) Balance at the end of the financial year 173,912 1,382 2024 Balance at the beginning of the financial year 71,203 1,343 Acquisition of investments during the financial year 43,539 - Disposal/reclassification of investments during the financial year (10,000) - Revaluation gain during the financial year 52,478 78 Balance at the end of the financial year 157,220 1,421
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