136 137
28.
Accounting classifications and fair value (continued)
(c)
Fair value measurements (continued)
(i)
Assets and liabilities measured at fair value (continued)
Significant
Observable
Inputs Other
Than Quoted
Prices
Significant
Unobservable
Inputs
Group
(Level 2)
(Level 3)
Total
$’000
$’000
$’000
2014
Recurring Fair Value Measurements
Assets
Financial assets:
Derivative financial instruments
– Currency swaps
18,148
–
18,148
Total financial assets
18,148
–
18,148
Non-Financial Assets:
Investment properties
–
869,085
869,085
Total non-financial assets
–
869,085
869,085
Liabilities
Financial liabilities:
Derivative financial instruments
– Currency forwards
916
–
916
– Currency swaps
1,736
–
1,736
– Interest rate swaps
514
–
514
Total financial liabilities
3,166
–
3,166
(ii)
Level 2 fair value measurements
As at 31 March 2015, the Group has currency forwards, interest rate swaps and currency swaps, which are
categorised in Level 2. The fair value of currency forwards is determined using mark-to-market valuation,
which is calculated on the basis of quoted forward exchange rates at the balance sheet date, received from
respective banking and financial institutions. The fair values of interest rate swaps and currency swaps are also
determined using mark-to-market valuation, which is calculated as the present value of the estimated future
cash flows, received from respective banking and financial institutions. These derivative financial instruments
are recognised at fair value in the financial statements.
