Sasbadi Annual Report 2019

PAGE 72 SASBADI HOLDINGS BERHAD FINANCIAL STATEMENTS (continued) 2. Significant accounting policies (continued) (c) Financial instruments (continued) (ii) Financial instrument categories and subsequent measurement (continued) Financial assets (continued) Previous financial year (continued) (b) Loans and receivables (continued) Financial assets categorised as loans and receivables were subsequently measured at amortised cost using the effective interest method. (c) Available-for-sale financial assets Available-for-sale category comprised investment in equity and debt instruments that were not held for trading. Investments in equity instruments that did not have a quoted market price in an active market and whose fair value could not be reliably measured were measured at cost. Other financial assets categorised as available-for-sale were subsequently measured at their fair values with the gain or loss recognised in other comprehensive income, except for impairment losses, foreign exchange gains and losses arising from monetary items and gains and losses of hedged items attributable to hedge risks of fair value hedges which were recognised in profit or loss. On derecognition, the cumulative gain or loss recognised in other comprehensive income was reclassified from equity into profit or loss. Interest calculated for a debt instrument using the effective interest method was recognised in profit or loss. All financial assets, except for those measured at fair value through profit or loss, were subject to impairment assessment (see Note 2(l)(i)). Financial liabilities Current financial year The categories of financial liabilities at initial recognition are as follows: (a) Fair value through profit or loss Fair value through profit or loss category comprises financial liabilities that are derivatives (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument), contingent consideration in a business combination and financial liabilities that are specifically designated into this category upon initial recognition.