200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 33. Fair value (a) Fair values of assets Level 1 Level 2 Level 3 Total RM RM RM RM 2024 Assets for which fair values are disclosed: Investment properties - - 1,000,000 1,000,000 2023 Assets for which fair values are disclosed: Investment properties - - 950,000 950,000 (b) Note Trade and other receivables (current) 20 Cash and bank balances (current) 21 Loans and borrowings (current and non-current) 23 Trade and other payables (current and non-current) 25 Financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximations of fair value The fair values of investment properties are determined by the directors using the comparable method. The following table shows an analysis of assets measured at fair value or for which fair values are disclosed by level of fair value hierarchy: The carrying amounts of the current portions of financial assets and liabilities of the Group and of the Company at the reporting date approximate fair values due to the relatively short term maturity of these financial instruments. The following are classes of financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximations of fair values: Group The carrying amount of the non-current portion of loans and borrowings is reasonable approximation of fair value as the interest charged on these amounts is pegged to, or close to, market interest rates on or near the reporting date. - 83 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 175 ANNUAL REPORT 2024
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