Annual Report 2016
129
28. Financial instruments (Cont’d)
28.8 Fair value information
The carrying amounts of cash and cash equivalents, short term receivables and payables and short term borrowings approximate fair values due to the
relatively short term nature of these financial instruments.
The carrying amounts of the floating rate borrowings and long term advances to subsidiaries approximate fair values as they are subject to variable interest
rates which in turn approximate the current market interest rates for similar loans at the end of the reporting period.
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 Fair value of financial instruments not Total fair Carrying
carried at fair value carried at fair value value amount
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2016
Group
Financial assets
Cross currency swap - - 3,777 3,777 - - - - 3,777 3,777
Interest rate swap - - (227) (227) - - - - (227) (227)
Forward exchange contracts - 86 - 86 - - - - 86 86
- 86 3,550 3,636 - - - - 3,636 3,636
Financial liabilities
Unsecured fixed rate term
loans - - - - - - (66,585) (66,585) (66,585) (66,841)
Finance lease liabilities - - - - - - (629) (629) (629) (622)
- - - - - - (67,214) (67,214) (67,214) (67,463)
Notes to the Financial Statements
(Cont’d.)
