36
MIGHT Directors’ Report And Audited Financial Statements 2020
11. SHORT TERM FUND
GROUP
2019 RM
2020 RM
Fair value through profit or loss Short term fund
-
22,221,930
(a)
Short term fund is classified as fair value through profit or loss, and subsequently remeasured to fair value with changes in fair value being recognised in profit or loss. The fair value is categorised as Level 1 in fair value hierarchy. The short term fund of the Group is denominated in RM.
(b)
The management assessed that the fair value of the short term fund approximately its carrying amount largely due to short term maturity of the instrument.
12. MEMBERS’ CONTRIBUTION
GROUP AND COMPANY 2020 RM 2019 RM
2,420,000 2,420,000
As at 1 January/31 December
13. CAPITAL CONTRIBUTION
GROUP AND COMPANY 2020 RM 2019 RM
27,000,000 27,000,000
Capital contribution
The government grant was received before 1 January 2004 and was used for the purpose of financing the activities of the Group and of the Company. In accordance with the transitional provisions in MASB 31, Accounting for Govern- ment Grants and Disclosure of Government Assistance, the Group has applied the accounting provisions of the Standard only to grants or portion of grants becoming receivable after the e ective date of the said standard on 1 January 2004.
14. DEFERRED INCOME
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Non-current liabilities Unsatisfied performance obligations in respect of: Government grant
25,943,573 11,122,584
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