7 211 210 Notes to the Financial Statements Notes to the Financial Statements 30. FINANCIAL INSTRUMENTS (CONTINUED) 30.8 Fair value information (continued) Fair value of financial instruments carried at fair value Fair value of financial instruments not carried at fair value Total fair value RM’000 Carrying amount RM’000 Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 Total RM’000 Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 Total RM’000 Company 2023 Financial assets Amount due from subsidiaries - - - - - - 127,974 127,974 127,974 127,929 Cross currency swap - 22,024 - 22,024 - - - - 22,024 22,024 Interest rate swap - 1,527 - 1,527 - - - - 1,527 1,527 Liquid investments 859 - - 859 - - - - 859 859 859 23,551 - 24,410 - - 127,974 127,974 152,384 152,339 2022 Financial assets Amount due from subsidiaries - - - - - - 193,489 193,489 193,489 191,932 Cross currency swap - 3,873 - 3,873 - - - - 3,873 3,873 Interest rate swap - 233 - 233 - - - - 233 233 Liquid investments 685 - - 685 - - - - 685 685 685 4,106 - 4,791 - - 193,489 193,489 198,280 196,723 30. FINANCIAL INSTRUMENTS (CONTINUED) 30.8 Fair value information (continued) Transfers between Level 1 and Level 2 fair values There has been no transfer between Level 1 and 2 fair values during the financial year (2022: no transfer in either directions). Level 1 fair value The fair values of liquid investments are their last quoted bid prices at the end of the reporting period. Level 2 fair value Derivatives The fair value of forward exchange contracts, cross currency swap, commodity future contracts and interest rate swap are based on the information obtained from licensed financial institutions. The following table shows the valuation techniques used in the determination of fair values within Level 3, as well as the key unobservable inputs used in the valuation models. Financial instruments not carried at fair value Type Description of valuation technique and inputs used Term loan and amounts due from subsidiaries Discounted cash flow using a rate based on the current market rate of borrowing of the Group at the reporting date. 31. CAPITAL AND OTHER COMMITMENTS Group 2023 RM’000 2022 RM’000 Capital commitments: Property, plant and equipment Contracted but not provided for 62,350 56,225 32. CAPITAL MANAGEMENT The Group’s and the Company’s objectives when managing capital is to maintain a healthy capital ratio and safeguard the Group’s and the Company’s ability to continue as a going concern, so as to maintain the confidence of shareholders, creditors and other stakeholders in the Group and the Company and to sustain the future development of the business. There were no change in the Group and the Company’s approach to capital management during the financial year.
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