121 www.excelforce.com.my Notes to the Financial Statements (cont’d) 36. Financial Instruments (cont’d) (c) Financial risk management objectives and policies (cont’d) (iii) Market risks (cont’d) (c) Market price risk (cont’d) Market price risk sensitivity analysis At the reporting date, if the various stock indices had been 1% higher/lower, with all other variables held constant, the Group’s other reserve in equity would have been RM123,225 (2023: RM107,653) higher/lower, arising as a result of an increase/(decrease) in the fair value of equity instruments classified as financial asset at FVTOCI. (d) Fair value of financial instruments The carrying amounts of short-term receivables and payables, cash and cash equivalents and short-term borrowings approximate their fair value due to the relatively short-term nature of these financial instruments and insignificant impact of discounting. It was not practicable to estimate the fair value of investment in unquoted equity due to the lack of comparable quoted prices in an active market and the fair value cannot be reliably measured. The table below analyses financial instruments carried at fair value, together with their fair values and carrying amounts shown in the statements of financial position. Fair value of financial instruments carried at fair value Total fair value Carrying amount Level 1 Level 2 Level 3 RM RM RM RM RM Group 2024 Financial assets Quoted shares 12,322,500 - - 12,322,500 12,322,500 Unquoted shares - - 14,158,500 14,158,500 14,158,500 Short-term funds 3,521,799 - - 3,521,799 3,521,799 15,844,299 - 14,158,500 30,002,799 30,002,799 Company 2024 Financial assets Quoted shares 12,322,500 - - 12,322,500 12,322,500 Short-term funds 3,521,799 - - 3,521,799 3,521,799 15,844,299 - - 15,844,299 15,844,299
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