Singapore Press Holdings annual report 2011 Singapore Press ...

Notes to the
Financial StatementS
August 31, 2011
164 Singapore Press Holdings annual report 2011
31. FINANCIAL RISK MANAGEMENT (CONT’D)
(e)
Fair value measurements (cont’d)
Level 1 Level 2 Level 3 Total
S$’000 S$’000 S$’000 S$’000
Company
2011
Assets
Available-for-sale financial assets 150,509 - - 150,509
Derivative financial instruments - 373 - 373
Total assets 150,509 373 - 150,882
Liabilities
Derivative financial instruments - (381) - (381)
2010
Assets
Available-for-sale financial assets 236,778 - - 236,778
Derivative financial instruments - 35 - 35
Total assets 236,778 35 - 236,813
Liabilities
Derivative financial instruments - (2,385) - (2,385)
The fair value of financial instruments traded in active markets (such as trading and available-for-sale
securities) is based on quoted market prices at the balance sheet date. The quoted market price
used for financial assets held by the Group is the current bid price. These instruments are included
in Level 1.
The fair value of financial instruments that are not traded in an active market is determined from
information provided by financial institutions and issuers using valuation techniques with observable
inputs that are based on market information existing at each balance sheet date. These financial
instruments are included in Level 2.
Where a valuation technique for financial instruments is based on significant unobservable inputs,
such instruments are included in Level 3.