Notes to the Financial Statements 31 December 2021 215 Integrated Annual Report 2021 Governance Audited Financial Statements Other Information 31. Financial instruments (CONT’D.) 31.8 Fair value measurement (Cont’d.) The following table provides the fair value measurement hierarchy of the Group’s financial assets and liabilities. (Cont’d.) Quantitative disclosures fair value measurement hierarchy for financial assets/(liabilities) as at 31 December 2020: Fair value measurement using Total Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) Note Date of valuation RM’000 RM’000 RM’000 RM’000 Financial assets/(liabilities) measured at fair value: Unquoted equity investments: - Other investment 16 31 December 2020 78 - - 78 Derivative financial assets: - Interest rate swaps 19 31 December 2020 61,728 - 61,728 - Derivative financial liabilities: - Foreign currency forward contracts 19 31 December 2020 (394) - (394) - There have been no transfers between Level 2 and Level 3 in the current financial year and prior financial year. The fair value of unquoted equity investment is categorised as Level 3 as cost was estimated to be an appropriate measure of fair value.There was no indicator that cost might not be representative of fair value. 32. Capital management The essence of the Group’s capital management strategy is to support its long-term strategic ambitions including: (i) its commitment to long-term sustainable dividend policy; (ii) its financial obligations while maintaining its financial flexibility; and (iii) its ability to support its business requirements and enable future growth.
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