2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D.) 2.31 Fair value measurement (cont’d.) A ll assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: (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 T he Group and the Company use valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. 2.32 Earnings per share T he Group presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic EPS for the financial year is calculated by dividing profit or loss attributable to owners of the parent by the weighted average number of ordinary shares outstanding during the financial year. Diluted EPS for the financial year is calculated by adjusting profit or loss attributable to owners of the parent by the weighted average number of ordinary shares and ICPS outstanding for the effects of all dilutive potential ordinary shares. 2.33 Current and non-current classification T he Group and the Company present their assets and liabilities in the statements of financial position based on current/non-current classification. An asset is current when: - It is expected to be realised or intended to be sold or consumed within the normal operating cycle; - It is held primarily for the purpose of trading; - It is expected to be realised within twelve months after the reporting period; or - C ash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when: - It is expected to be settled within the normal operating cycle; - It is held primarily for the purpose of trading; - It is due to be settled within twelve months after the reporting period; or - There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. D eferred tax assets and liabilities are classified as non-current assets and liabilities. All other liabilities are classified as non-current. NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 192 ANNUAL REPORT 2022
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