Megachem Limited Annual Report 2015 122 Notes to the Financial Statements 31 December 2015 25. Financial instruments: information on financial risks (cont’d) 25I. Fair value measurements recognised in the statement of financial position The fair value measurements are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The quantitative disclosures for the fair value measurements are disclosed below: Level 1 Level 2 Level 3 Total $’000 $’000 $’000 $’000 Group As at 31 December 2015 Financial assets at fair value through profit or loss: Forward foreign currency contracts – 32 – 32 Quoted equity shares in corporations 110 – – 110 Total 110 32 – 142 Financial liabilities at fair value through profit or loss: Forward foreign currency contracts – 51 – 51 Total – 51 – 51 As at 31 December 2014 Financial assets at fair value through profit or loss: Forward foreign currency contracts – 47 – 47 Quoted equity shares in corporations 100 – – 100 Total 100 47 – 147 Financial liabilities at fair value through profit or loss: Forward foreign currency contracts – 51 – 51 Total – 51 – 51 Level 1 Level 2 Level 3 Total $’000 $’000 $’000 $’000 Company As at 31 December 2015 Financial assets at fair value through profit or loss: Forward foreign currency contracts – 11 – 11 Quoted equity shares in corporations 110 – – 110 Total 110 11 – 121 As at 31 December 2014 Financial assets at fair value through profit or loss: Forward foreign currency contracts – – – – Quoted equity shares in corporations 100 – – 100 Total 100 – – 100 There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy.
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