Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 189 47 FAIR VALUES OF FINANCIAL INSTRUMENTS (CONTINUED) The carrying amount of financial liabilities measured at amortised cost approximates their respective fair values. Fair value hierarchy The table below summarises all financial instruments carried at fair value as at 31 December 2017 and 31 December 2016, based on a hierarchy that reflects the significance of the inputs used in measuring its respective fair values. The levels are defined as follows: Level 1: Quoted prices (unadjusted) in active markets for identical financial assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the financial asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3: Inputs for the financial asset or liability that are not based on observable market data (unobservable inputs). Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 Total RM’000 Group 2017 Financial assets Available-for-sale financial assets 10 - - 10 Derivative financial assets - 94 - 94 Short term investments - 18,862 - 18,862 10 18,956 - 18,966 2016 Financial assets Available-for-sale financial assets 10 - - 10 Derivative financial assets - 581 - 581 Short term investments - 29,840 - 29,840 10 30,421 - 30,431 Company 2017 Financial assets Short term investments - 18,862 - 18,862 2016 Financial assets Short term investments - 29,840 - 29,840