250 F INANC IAL Statements 05 Sect ion Ranhi ll Ut i l i t i es Berhad NOTES TO THE F INANC I AL STATEMENTS For the year ended 31 December 2022 44. FAIR VALUE OF FINANCIAL INSTRUMENTS AND INVESTMENT PROPERTIES (Contd.) (b) Fair value determined based on level 2 input of financial instruments by classes that are not carried at fair value and whose carrying amounts are not reasonable approximation of fair value Group Note Carrying amount RM’000 Fair value RM’000 31 December 2022 Non-current Financial asset Operating financial assets 23 481,881 496,364 Financial liabilities Sukuk Murabahah RM650M 31 466,510 469,086 Sukuk Murabahah RM310M 31 106,667 108,357 Musharakah Medium Term Notes (“mMTN”) 31 353,377 294,253 31 December 2021 Non-current Financial asset Operating financial assets 23 531,184 575,297 Financial liabilities Sukuk Murabahah RM650M 31 513,442 486,332 Musharakah Medium Term Notes (“mMTN”) 31 394,248 350,146 (c) Financial instruments that are not carried at fair value and whose carrying amounts are reasonable approximation of fair value The carrying amounts of trade and other receivables, trade and other payables, and cash and bank balances are reasonable approximation of fair values, either due to their short-term nature or repayable on demand term. The carrying amounts of the current portion of loans and borrowings are reasonable approximations of fair values due to the insignificant impact of discounting. The carrying amounts of other non-current term loans are reasonable approximations of fair values as they are floating rate instruments that are re-priced to market interest rates on or near the reporting date. (d) The following table sets out the fair value profile of investment properties that are not carried at fair value at the end of the reporting period: Group 2022 RM’000 2021 RM’000 Assets for which fair values are disclosed: Level 3 Investment properties 2,695 - During the financial year ended 31 December 2022, there were no transfers between the hierarchy fair value measurement.
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