NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 SECTION 4: FINANCIAL PERFORMANCE 208 33. FINANCIAL INSTRUMENTS (CONT’D) 33.3 Fair value of financial instruments The carrying amounts of short term receivables and payables, cash and cash equivalents and short term borrowings approximate their fair values due to the relatively short term nature of these financial instruments and insignificant impact of discounting. Fair value hierarchy The Group classifies fair value measurement using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. As at reporting date, the Group disclosed the fair value of the following financial instruments:- Fair value of Fair value of Fair value of financial financial financial instruments instruments instruments carried at fair carried at fair carried at fair Carrying value value value amount Level 1 Level 2 Level 3 RM’000 RM’000 RM’000 RM’000 Group 2024 Financial asset Other investment 27,804 17 - 27,821 Financial liability Term loans - - 15,920 17,567 2023 Financial asset Other investment 26,655 17 - 26,672 Financial liability Term loans - - 14,980 20,314 During the reporting year ended 31 December 2024 and 31 December 2023 there were no transfers between the hierarchy fair value measurement.
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