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Annual Report 2016
ASIA MEDIA GROUP Berhad
117
Notes to the Financial Statements
(continued)
24. Fair value of financial instruments
Determination of fair value
Financial instruments that are not carried at fair value and whose carrying amounts are reasonable
approximation of fair value
The following are classes of financial instruments that are not carried at fair value and whose
carrying amounts are reasonable approximation of fair value:
Note
Trade and other receivables (other than prepayments)
11
Short term borrowings
15
Trade and other payables
14
The carrying amounts of the above financial assets and liabilities are reasonable approximation
of fair values due to their short-term nature.
It was not practicable to estimate the fair value of the Group’s and Company’s investment in
unquoted shares due to the lack of comparable quoted prices in an active market and the fair
value cannot be reliable measured.
Fair value hierarchy
Financial instruments that are measured in the statement of financial position at fair value are
disclosed by the following fair value measurement hierachy:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);
and
Level 3: Inputs for the asset or liability that are not based on observable market data
(unobservable inputs).
There are no financial assets or liabilities of the Group or of the Company which are carried at
fair value.