Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 164 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 28. FINANCIAL INSTRUMENTS (CONT’D) (e) Fair Value Information (Cont’d) (i) Fair Value of Financial Instruments Carried at Fair Value • The fair value of unit trusts is determined by reference to statements provided by the respective financial institutions, with which the investments were entered into. • The fair value of quoted share is determined at their quoted closing bid prices at the end of the reporting period. • There were no transfers between level 1 and level 2 during the financial year. (ii) Fair Value of Financial Instruments Not Carried at Fair Value • The fair value of bank borrowing that carry floating interest rate approximated its carrying amount as it is repriced to market interest rate on or near the reporting date. 29. COMMITMENTS As of financial year end, the Group has the following capital commitments: The Group 2022 2021 RM RM Purchase of property, plant and equipment 1,718,241 28,129,748
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