Notes to the Financial Statements
31 December 2015
36.
Fair value of assets and liabilities (cont’d)
(c)
Level 3 fair value measurements (cont’d)
Valuation policies and procedures (cont’d)
Significant changes in fair value measurements from period to period are evaluated by the CFO for
reasonableness. Key drivers of the changes are identified and assessed for reasonableness against
relevant information from independent sources, or internal sources if necessary and appropriate.
The CFO documents and reports its analysis and results of the external/internal valuations to the ARMC
on a quarterly basis. The ARMC performs a high-level independent review of the valuation process and
results and recommends if any revisions need to be made before presenting the results to the Board of
Directors for approval.
(d)
Assets and liabilities not carried at fair value for which fair value is disclosed
The following table shows an analysis of the Group’s assets not measured at fair value as at 31 December
2015 but for which fair value is disclosed:
Group
2015
Fair value measurements at the end of the reporting period using
Quoted prices
in active
markets for
identical
instruments
6LJQLȴFDQW
observable
inputs other
WKDQ TXRWHG
prices
6LJQLȴFDQW
unobservable
inputs
Total
Carrying
amount
(Level 1)
(Level 2)
(Level 3)
S$’000
S$’000
S$’000
S$’000
S$’000
Assets:
Held-to-
maturity
investments
27,672
–
–
27,672
28,274
HOCK LIAN SENG HOLDINGS LIMITED
92
