ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 135 NOTES TO THE FINANCIAL STATEMENTS 31 March 2020 40. FINANCIAL INSTRUMENTS (Cont’d) c. Fair value hierarchy (Cont’d) The carrying amount of cash and cash equivalents, short term receivable and payables and short term borrowings reasonably approximate their fair values due to the relatively short term nature of these financial instruments. The table below analyses other financial instruments at fair value: Fair value of financial instruments carried at fair value Fair value of financial instruments not carried at fair value Total fair value RM’000 Carrying amount RM’000 Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 Total RM’000 Level 1 RM’000 Level 2 RM’000 Level 3 RM’000 Total RM’000 2020 Group Financial assets Derivative assets - 225 - 225 - - - - 225 225 Short term funds 23,947 - - 23,947 - - - - 23,947 23,947 Financial liabilities Contingent consideration for business acquisition - - 2,904 2,904 - - - - 2,904 2,904 Land entitlement payment - - 9,450 9,450 - - - - 9,450 9,450 RCPS - - - - - - 5,909 5,909 5,909 6,006 Company Financial assets Derivative assets - 188 - 188 - - - - 188 188 Short term funds - 23,154 - 23,154 - - - - 23,154 23,154