Kenanga Investment Bank Berhad Annual Report 2021 322 Our Sustainability Approach About This Report We Are Kenanga Message From Chairman and GMD 51. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D.) Fair value measurement (cont’d.) There have been no transfers between Level 1 and Level 2 during the financial years. The methods and assumptions used to estimate the fair value of the financial instruments not measured at fair value are as disclosed in Note 48. Movements in Level 3 financial instruments measured at fair value The level of the fair value hierarchy of financial instruments is determined at the beginning of each reporting period. The following table shows a reconciliation of the opening and closing amounts of Level 3 financial assets which are recorded at fair value: Group and Bank Equity securities at FVTPL RM’000 Equity securities at FVOCI RM’000 2021 Balance at the beginning of the financial year 48,453 1,990 Acquisition of investments during the financial year 10,990 - Revaluation gain/(loss) during the financial year 21,397 (530) Balance at the end of the financial year 80,840 1,460 2020 Balance at the beginning of the financial year 28,994 1,088 Acquisition of investments during the financial year 22,475 - Revaluation (loss)/gain during the financial year (3,016) 902 Balance at the end of the financial year 48,453 1,990 Notes to the Financial Statements 31 December 2021
RkJQdWJsaXNoZXIy NDgzMzc=