Section 8 UEM Edgenta Berhad FINANCIAL STATEMENTS 370 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 41. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTD.) (e) Market price risk Market price risk is the risk that the fair value or future cash flows of the Group’s financial instruments will fluctuate because of changes in market prices (other than interest or exchange rates). The Group is not exposed to equity price risk arising from its investment in quoted equity instruments. (f) Fair value Financial instruments that are not measured at fair value and whose carrying amounts are reasonable approximation of fair value Included in these classes of financial instruments are certain financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximation of fair value: Note Trade and other receivables 22 Cash, bank balances and deposits 27 Borrowings 35 Trade and other payables 36 The carrying amounts of these financial assets and financial liabilities are reasonable approximation of fair values due either to the short term nature or insignificant impact of discounting or that they are floating rate instruments that are repriced to market interest rates on or near the reporting date. Determination of fair value The following table provides the fair value measurement hierarchy of the Group’s financial assets Level 2 - significant observable input Group 2023 RM ‘000 2022 RM ‘000 Assets measured at fair value: Short term investments 26,616 97,178 The valuation date of these financial instruments is 31 December 2023 and 2022, respectively. There have been no transfers between levels during the period. Short term investments are valued based on currently available deposits with similar terms and maturities.
RkJQdWJsaXNoZXIy NDgzMzc=