Tropicana Corporation Berhad Annual Report 2020

38. FINANCIAL INSTRUMENTS (CONT'D.) Classification of financial instruments (cont'd.) Financial Fair value Financial assets at through liabilities at amortised profit or amortised cost loss cost Total RM'000 RM'000 RM'000 RM'000 Company 31 December 2019 Assets Other investments – 312 – 312 Trade and other receivables - Non-current 389 – – 389 - Current (excluding prepayments) 1,554,264 – – 1,554,264 Cash and bank balances 52,011 – – 52,011 Total financial assets 1,606,664 312 – 1,606,976 Total non-financial assets 2,993,706 Total assets 4,600,682 Liabilities Borrowings - Non-current – – 128,104 128,104 - Current – – 207,986 207,986 Trade and other payables - current – – 299,856 299,856 Lease liabilities - Non-current – – 300 300 - Current – – 917 917 ICPS - Non-current – – 163,355 163,355 - Current – – 10,915 10,915 Total financial liabilities – – 811,433 811,433 Total non-financial liabilities 578 Total liabilities 812,011 39. FAIR VALUE MEASUREMENT Determination of fair values of financial instruments The fair values of financial instruments measured at amortised cost are derived as follows: Non-current financial instruments - Estimated by discounting expected future cash flows at market incremental lending rate for similar types of lending, borrowing or leasing arrangements at the reporting date; or Current financial instruments - Reasonable approximation of their carrying values as they are either floating rate financial instruments which are repriced to market interest rates, short-term in nature or are repayable on demand. The fair value measurement hierarchies used to measure assets and liabilities carried at fair value in the statements of financial position are as follows: (a) Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities (b) Level 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable (c) Level 3 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable Level 1 Level 2 Level 3 Total RM'000 RM'000 RM'000 RM'000 Group 31 December 2020 Assets measured at fair value: Hotel buildings – – 485,000 485,000 Other investments 150,974 – 887 151,861 Investment properties – – 1,524,337 1,524,337 31 December 2019 Assets measured at fair value: Other investments – – 312 312 Investment properties – – 1,295,070 1,295,070 Assets classified as held for sale – – 75,700 75,700 Description of valuation techniques used and key inputs to valuation on investment properties is as disclosed in Note 17. There were no transfers between Level 1, Level 2 and Level 3 during the financial year. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 280 281