NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) 46. FINANCIAL INSTRUMENTS (CONT’D) (b) Financial risk management objectives and policies (cont’d) (iii) Market risk (cont’d) (c) Equity price risk (cont’d) Cash flows sensitivity analysis for floating rate instruments (cont’d) Management of the Group monitors investments in quoted instruments on a portfolio basis. Material investments within the portfolio are managed on an individual basis and all buy and sell decisions are approved by Risk Management Committee of the Group. Market price risk sensitivity analysis At the reporting date, if the various stock indices had been 1% higher/ lower, with all other variables held constant, the Group’s proft before tax would have been RM562,800 (2021: Nil) higher/lower, arising as a result of higher/lower fair value gains on held for trading RM562,800 (2021: Nil) higher/lower, arising as a result of an increase/decrease in the fair value of equity instruments classified as financial asset at FVTOCI. (c) Fair value of financial instruments The fair value of the financial assets and financial liabilities of the Group and the Company which are maturing within the next 12 months approximated their carrying amounts due to the relatively short-term maturity of the financial instruments or repayable on demand terms. The table below analyses financial instruments carried at fair value and those not carried at fair value for which fair value is disclosed, together with their fair values and carrying amounts shown in the statements of financial position. Fair value of financial instruments carried at fair value Total fair value Carrying amount Level 1 Level 2 Level 3 RM’000 RM’000 RM’000 RM’000 RM’000 Group 2022 Financial assets Other investments: - unquoted investments - 24,055 211,663 235,718 235,718 Short-term investments - 4,183 - 4,183 4,183 2021 Financial assets Other investments: - unquoted investments - 24,055 222,438 246,493 246,493 Short-term investments - 4,026 - 4,026 4,026 242
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