27
MIGHT Directors’ Report And Audited Financial Statements 2020
7. OTHER INVESTMENTS
2020 RM
2019 RM
GROUP
Fair value through profit or loss
Equity instruments:
- Unquoted ordinary shares - Unquoted redeemable convertible cumulative preference shares (“RCCPS”)
15,635,593
11,655,873
-
77,019,856
61,726,613
92,655,449
73,382,486
(a) Other investments are classified as financial assets at fair value through profit or loss.
(b)
Unquoted ordinary shares and RCCPS of the Group are categorised as Level 3 in the fair value hierarchy. Fair values of investments in unquoted ordinary shares and RCCPS are estimated based on price to book valuation model and discounted cash flow method. There is no transfer between levels in the hierarchy during the financial year.
(c)
The Group carries unquoted equity shares as financial assets at fair value through profit or loss classified as Level 3 within the fair value hierarchy. The reconciliation is as follows:
FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS
2019 RM
2020 RM
GROUP
At 1 January Additions Disposal Fair value loss recognised in profit or loss
73,382,486 37,000,000 (1,600,000) (16,127,037) - -
- 54,882,486 25,500,000 (7,000,000)
At 31 December
92,655,449
73,382,486
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