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NOTESTOTHEFINANCIALSTATEMENTS
31 DECEMBER 2013
37. FINANCIAL RISK MANAGEMENT POLICIES (CONT’D)
Fair values (cont’d)
(ii) Fair value hierarchy (cont’d)
The following table represents financial assets and liabilities measured at fair value and classified by level with the
following fair value measurement hierarchy:
Carrying
Fair value
value
Level 2
RM’000
RM’000
2013
Financial assets
AFS securities
Unquoted debt securities
435,616
435,616
HTM securities
Unquoted debt securities
10,005
10,005
Derivative financial assets
379
379
446,000
446,000
Financial liabilities
Borrowings – Medium Term Notes (Hedged items)
2,309,713 2,309,713
Derivative financial liabilities
58,335
58,335
2,368,048
2,368,048
Assets for which fair values are disclosed:
Investment properties
491
780
2012
Financial assets
Derivative financial assets
20,927
20,927
AFS securities
Unquoted debt securities
238,080
238,080
HTM securities
Unquoted debt securities
10,008
10,008
269,015
269,015
Assets for which fair values are disclosed:
Investment properties
509
780
There were no transfer between Level 1 and Level 2 of the fair value hierarchy during the financial year.
For financial instruments classified as Level 1, the valuations are determined by reference to unadjusted quoted prices
for identical assets or liabilities in active markets where the quoted prices are readily available, and the prices represent
actual and regularly occurring market transactions on an arm’s length basis. An active market is one in which transactions
occur with sufficient volume and frequency to provide pricing information on an ongoing basis.
182
EXIM Bank Annual Report 2013