NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) 12. Other investments Group 2022 2021 RM’000 RM’000 At FVTOCI Unquoted shares At beginning of the financial year 246,493 246,493 Transfer to FVTPL (10,775) - At end of the financial year 235,718 246,493 At FVTPL Quoted shares At beginning of the financial year - - Transfer from FVTOCI before to held for sales 10,775 - Fair value gain 45,505 - Transfer to assets held for sale (56,280) - At end of the financial year - - Total other investments 235,718 246,493 The Group has designated the below equity investments at fair value through other comprehensive income because the Group intends to hold these investments for long-term strategic purposes. The fair value of each investment is summarised below: 2022 2021 Note RM’000 RM’000 Unquoted shares of Entity A - 10,775 Unquoted shares of Entity B 7,922 7,922 Unquoted shares of Entity C 10,408 10,408 Unquoted shares of Entity D 30 30 Unquoted shares of Entity E 225 225 Unquoted shares of Entity F 5,999 5,999 Unquoted shares of Entity G 9,141 9,141 Unquoted shares of Entity H (c) & (e) 6,000 6,000 Unquoted shares of Entity I (d) & (e) 176,500 176,500 Unquoted shares of Entity J (a) 8,915 8,915 Unquoted shares of Entity K (b) 10,578 10,578 235,718 246,493 Other investments stated at fair value are analysed into level 2 and level 3 fair value measurements. The level 2 fair value of other investments have been determined based on transacted values during the financial year and the market comparison technique using market multiples derived from quoted prices of companies comparable to the investee, adjusted for the effect of the non-marketability of the unquoted shares. Investments in Entities F, G, and J fall within level 2 fair value measurements. 204
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