NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 38. FAIR VALUE MEASUREMENT Determination of fair values of financial instruments The fair values of financial instruments measured at amortised cost are derived as follows: Non-current financial instruments - Estimated by discounting expected future cash flows at market incremental lending rate for similar types of lending, borrowing or leasing arrangements at the reporting date; or Current financial instruments - Reasonable approximation of their carrying values as they are either floating rate financial instruments which are repriced to market interest rates, short-term in nature or are repayable on demand. The fair value measurement hierarchies used to measure assets and liabilities carried at fair value in the statements of financial position are as follows: (a) Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities (b) Level 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable (c) Level 3 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable Level 1 Level 2 Level 3 Total RM’000 RM’000 RM’000 RM’000 Group 31 December 2024 Assets measured at fair value: Other investments 172,834 – 887 173,721 Investment properties – – 394,119 394,119 31 December 2023 Assets measured at fair value: Hotel buildings – – 435,000 435,000 Other investments 174,554 – 887 175,441 Investment properties – – 1,336,801 1,336,801 Description of valuation techniques used and key inputs to valuation on investment properties are as disclosed in Note 17. There were no transfers between Level 1, Level 2 and Level 3 during the financial year. ANNUAL REPORT 2024 340
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