NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 44. FINANCIAL INSTRUMENTS (CONT’D) 44.5 FAIR VALUE INFORMATION (CONT’D) As the Group does not have any financial instruments carried at fair value, the following table sets out only the fair value profile of financial instruments that are not carried at fair value at the end of the reporting period (Cont’d):- The Company Fair Value of Financial Instruments not Carried at Fair Value Total Fair Value RM’000 Carrying Amount RM’000 Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 2023 Financial assets Amount owing by subsidiaries (non-current) - 526,541 - 526,541 526,541 Financial liability Sukuk Wakalah - 78,753 - 78,753 80,000 2022 Financial assets Amount owing by subsidiaries (non-current) - 393,825 - 393,825 393,825 Financial liability Sukuk Wakalah - 105,963 - 105,963 110,000 (a) The fair values, which are for disclosure purposes, have been determined using the following basis:- (i) The fair value of other receivable (non-current), amounts owing by subsidiaries (non-current) and non-controlling interest shareholders approximated their carrying amounts as they are repriced to market interest rates on or near the reporting date. (ii) The fair values of the term loans and revolving credits that carry floating interest rates approximated their carrying amounts as they are repriced to market interest rates on or near the reporting date. INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 240 FINANCIAL STATEMENTS
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