Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

40. FINANCIAL INSTRUMENTS (CONT’D)
(ii) Quoted Investments
The fair values of quoted investments is determined by reference to stock exchange quoted market bid
prices at the close of the business on the balance sheet date.
(iii) Borrowings
The carrying amounts of bank overdrafts, revolving credit, bill payables, short term loans and bankers’
acceptance approximate fair values due to the relatively short term maturity of these financial
liabilities.
The carrying amounts of long term floating rate loans approximate their fair values.
The fair value of hire purchase and fixed rate term loan are estimated using discounted cash flow
analysis, based on current lending rates for similar types of lending and borrowing arrangements.
The carrying amounts of the Group and the Company’s financial assets and liabilities at balance sheet date
approximate their fair values except as follows:-
Financial Assets
GROUP COMPANY
Carrying Fair Carrying Fair
Amount Value Amount Value
RM RM RM RM
Long term quoted investments 184,021 142,445 - -
The long term quoted investments with carrying amount in excess of their fair values are reflected in
note 5 to the financial statements. Allowance for diminution in value has already been made on these
quoted investments.
Financial Liabilities
NOTES TO THE FINANCIAL STATEMENTS (Cont’d)
GROUP COMPANY
Carrying Fair Carrying Fair
Amount Value Amount Value
RM RM RM RM
Term loans 2,622,091 *2,622,091 - -
Hire purchase payables 1,335,431 1,334,796 382,446 374,574
* The carrying value approximate their fair values as the term loans were drawn down towards the end
of the financial year end.
Amtel Holdings Berhad 2003 annual report 71