76
4. Financial Instruments, Financial Risks and Capital Assets
Management (cont’d)
b) Financial risk management policies and objectives (cont’d)
(vi) Fair value of financial assets and financial liabilities (cont’d)
Details of valuation technique and significant unobservable inputs used in the fair value measurement of unquoted
equity investments as at December 31, 2014 are as follows:
(1)
Price per square meter is based on recent transactions adjusted for location, size, improvement, time element,
tenure, prevailing market conditions and all other relevant factors affecting its value. Any significant isolated
increases (decrease) in the estimated price per square meter would result in a significantly higher (lower) fair value
measurement.
Description
Share on fair value of the
investee company’s
investment property as at
Valuation
technique (s)
Significant
unobservable
input(s)
Relationship of
unobservable
inputs to fair
value
December 31,
2014
December 31,
2013
$’000
$’000
Investment property
comprising
283 retail strata lots
and 4 office strata
lots in
Chinatown Point
at 133 New Bridge
Road,
Singapore 059413
15,200
14,270
Direct sale
comparison
approach
Price per square
meter
(1)
See Note
(1)
below.
Notes to Financial Statements
December 31, 2014
Financial instruments measured at fair value based on level 3
Available-for-sale financial assets
representing, total unquoted equities
$’000
Group
At April 1, 2013
18,198
Reduction in equity
(4,500)
Gains in other comprehensive income
572
At December 31, 2013
14,270
Gains in other comprehensive income
930
At December 31, 2014
15,200
There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the financial period.
The Group and Co-operative have no financial liabilities carried at fair value as at December 31, 2014.
