ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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WAWASAN TKH HOLDINGS BERHAD (540218-A) ANNUAL REPORT 2012 087 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 (cont’d) 26. FINANCIAL INSTRUMENTS (cont’d) (b) Categories of financial instruments (cont’d) Group 2011 Loans and receivables RM’000 Fair value through profit or loss RM’000 Total RM’000 Financial assets Trade and other receivables, net of deposits and prepayments Derivative assets Cash and cash equivalents 11,713 - 2,151 - 14 - 11,713 14 2,151 13,864 14 13,878 Financial liabilities Borrowings Trade and other payables Derivative liabilities Other financial liabilities RM’000 39,905 57,511 - Fair value through profit or loss RM’000 - - 46 Total RM’000 39,905 57,511 46 97,416 46 97,462 Company 2011 Loans and receivables RM’000 Financial assets Trade and other receivables, net of deposits and prepayments Cash and cash equivalents 5,626 10 5,636 Financial liabilities Trade and other payables Other financial liabilities RM’000 40,945 (c) Fair values of financial instruments The fair values of financial instruments that are not carried at fair values and whose carrying amounts do not approximate their fair values are as follows: 2012 Notes Carrying amounts RM’000 Group Fair values RM’000 Recognised Financial liabilities Hire purchase liabilities 16 2,113 2,115 2011 Recognised Financial liabilities Hire purchase liabilities 16 1,813 1,849
088 WAWASAN TKH HOLDINGS BERHAD (540218-A) ANNUAL REPORT 2012 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 (cont’d) 26. FINANCIAL INSTRUMENTS (cont’d) (d) Methods and assumptions used to estimate fair values The fair values of financial assets and financial liabilities are determined as follows: (i) Financial instruments that are not carried at fair values and whose carrying amounts are a reasonable approximation of fair values The carrying amounts of financial assets and financial liabilities, such as trade and other receivables, trade and other payables and borrowings, are reasonable approximation of fair values, either due to their short-term nature or that they are floating rate instruments that are re-priced to market interest rates on or near the end of the reporting period. (ii) Obligations under finance lease The fair values of these financial instruments are estimated by discounting expected future cash flows at market incremental lending rate for similar types of lending, borrowing or leasing arrangements at the end of the reporting period. (iii) Derivatives The fair value of a forward foreign exchange contract is the amount that would be payable or receivable upon termination of the outstanding position arising and is determined by reference to the difference between the contracted rate and the forward exchange rate as at the end of the reporting period applied to a contract of similar amount and maturity profile. (e) Fair value hierarchy The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable. Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 fair value measurements are those derived from 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). Level 3 fair value measurements are those derived from inputs for the asset or liability that are not based on observable market data (unobservable inputs). As at 31 December 2012, the Group held the following financial instruments carried at fair value on the statement of financial position: Liabilities measured at fair values Financial liabilities at fair value through profit or loss - Forward currency contracts Total RM’000 23 Level 1 RM’000 As at 31 December 2011, the Group held the following financial instruments carried at fair value on the statement of financial position: - Level 2 RM’000 23 Level 3 RM’000 - Assets measured at fair values Financial assets at fair value through profit or loss - Forward currency contracts Total RM’000 14 Level 1 RM’000 - Level 2 RM’000 14 Level 3 RM’000 - Liabilities measured at fair values Financial liabilities at fair value through profit or loss - Forward currency contracts Total RM’000 46 Level 1 RM’000 - Level 2 RM’000 46 Level 3 RM’000 - There were no transfers between Level 1 and Level 2 fair value measurements during the financial years ended 31 December 2012 and 31 December 2011.
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WAWASAN TKH HOLDINGS BERHAD (540218
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002 CORPORATE INFORMATION BOARD OF
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004 CHAIRMAN’S STATEMENT (cont’
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006 DIRECTORS' PROFILE ____________
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008 DIRECTORS' PROFILE (cont’d) Y
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010 STATEMENT ON CORPORATE GOVERNAN
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016 STATEMENT ON RISK MANAGEMENT &
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018 AUDIT COMMITTEE REPORT (cont’
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ANNUAL REPORT 2012 - Wawasan TKH Holdings Berhad

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