MKH Berhad 227 44. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D) (iv) Borrowings T he carrying amounts of bank overdrafts, short-term revolving credits, bridging loan and shortterm loans approximate fair values due to the relatively short-term maturity of these financial liabilities. T he carrying amounts of long-term floating rate revolving credits and loans approximate their fair values as the loans will be re-priced to market interest rate on or near reporting date. T he fair value of hire purchase liabilities is estimated using discounted cash flow analysis, based on current lending rates for similar types of lending arrangements. T he carrying amounts and fair value of financial instruments, other than the carrying amounts which are reasonable approximation of fair values, are as follows: The Group Carrying Fair amount value RM RM 2021 Financial assets Long-term other receivables 4,429,437 4,140,843 Loan receivables 37,398,433 35,056,239 Financial liabilities Hire purchase liabilities 789,965 803,124 2020 Financial assets Long-term other receivables 4,057,924 3,983,433 Loan receivables 29,446,198 27,343,516 Financial liabilities Hire purchase liabilities 1,147,984 1,175,807 Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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