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Prudential Assurance Malaysia Berhad(Company No. 107655-U)(Incorporated in Malaysia)Notes to the interim financial statements (continued)3. Investments (continued)(b)(c)HFTAs atAs at30.06.2013 31.12.2012RM’000RM’000Fair valueMalaysian government securities 674,461 635,068Debt securities 6,835,737 6,616,489Equity securities 7,723,048 6,925,721Unit and property trust funds 444,851 330,266Foreign managed fund 784,518 756,078Investment in structured products 107,867 122,931_________ _________Carrying values of financial instruments16,570,482 15,386,553========= =========LAR HFT TotalRM’000 RM’000 RM’000At 1 January 2012 2,528,035 12,610,928 15,138,963Purchases 39,222,424 4,511,923 43,734,347Maturities (39,538,806) (312,545) (39,851,351)Disposals - (1,980,621) (1,980,621)Fair value gains recorded in:Profit or loss - 561,969 561,969New loans 139,307 - 139,307Redemption or repayment (115,385) - (115,385)Interest receivable 11,396 - 11,396Movement in foreign exchange rate - (5,101) (5,101)_________ _________ __________At 31 December 2012 2,246,971 15,386,553 17,633,524Purchases 24,996,210 2,047,189 27,043,399Maturities (25,172,743) (180,900) (25,353,643)Disposals - (1,062,365) (1,062,365)Fair value gains recorded in:Profit or loss - 376,601 376,601New loans 71,046 - 71,046Redemption or repayment (54,759) - (54,759)Interest receivable 4,118 - 4,118Movement in foreign exchange rate - 3,404 3,404_________ _________ _________At 30 June 2013 2,090,843 16,570,482 18,661,325======== ======== ========Page 8
Prudential Assurance Malaysia Berhad(Company No. 107655-U)(Incorporated in Malaysia)Notes to the interim financial statements (continued)3. Investments (continued)(d)Fair value of financial investments (continued)The following table shows financial investments recorded at fair value analysed by thedifferent basis of fair values as follows:As atAs at30.06.2013 31.12.2012RM’000RM’000HFTQuoted market price 16,570,482 15,386,553======== ========Included in the quoted price category are financial instruments that are measured inwhole or in part by reference to published quotes in an active market. A financialinstrument is regarded as quoted in an active market if quoted prices are readily andregularly available from an exchange, secondary market via dealer and broker, pricingservice or regulatory agency and those prices represent actual and regularly occurringmarket transactions on an arm’s length basis.(e)Fair value hierarchyThe table below analyses financial instruments carried at fair value, by valuation method.The different levels have been defined as follows:Level 1: Quoted prices (unadjusted) in active markets for identical assets andliabilitiesLevel 1 principally includes exchange listed equities, mutual funds with quoted prices,and exchange traded derivatives such as futures and options unless there is evidencethat trading in a given instrument is so infrequent that the market could not possibly beconsidered active. It also includes other financial instruments (including net assetsattributable to unit-holders of consolidated unit trusts and similar funds) where there isclear evidence that the year end valuation is based on a traded price in an active market.Level 2: Inputs other than quoted prices included within level 1 that are observableeither directly (i.e. as prices) or indirectly (i.e. derived from prices)Level 2 principally includes corporate bonds, national and non-national government debtsecurities which are valued using observable inputs, together with over-the-counterderivatives such as forward exchange contracts and non-quoted investment funds valuedwith observable inputs. It also includes net assets attributable to unit-holders ofconsolidated unit trusts and similar funds and investment contract liabilities that arevalued using observable inputs.Page 9
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