Chemical Company of Malaysia Berhad Annual Report 2019

25. Financial instruments (continued) 25.7Fair value information (continued) Level 1 fair value Level 1 fair value is derived from quoted price (unadjusted) in active markets for identical financial assets or liabilities that the entity can access at the measurement date. 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 (2018: no transfer in either direction). Level 3 fair value The following table shows a reconciliation of Level 3 fair values: Group and Company 2019 2018 Other investment At 1 January 200 200 Gains recognised in profit or loss 80 - At 31 December 280 200 The following table shows the valuation technique used in the determination of fair value within Level 3, as well as the significant unobservable inputs used in the valuation model. Type Description of valuation technique and inputs used Significant unobservable inputs Inter-relationship between significant unobservable inputs and fair value measurement Other investment – club membership The fair value of club membership is based on published membership fee in the current Club Prospectus, adjusted for transfer fees. Membership fees The estimated fair value would increase/(decrease) if membership fee is higher/(lower). | Notes to the Financial Statements (continued) | 204 CHEMICAL COMPANY OF MALAYSIA BERHAD