115
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
33.
FAIR VALUE OF ASSETS AND LIABILITIES
Fair value hierarchy
The Group categories fair value measurements using a fair value hierarchy that is dependent on the
valuation inputs used as follows:
–
Level 1 – Quoted prices (unadjusted) in active market for identical assets or liabilities that
the Group can access at the measurement date,
–
Level 2 – Inputs other that quoted prices included within Level 1 that are observable for
the asset or liability, either directly or indirectly, and
–
Level 3 – Unobservable inputs for the asset or liability.
Fair value measurements that use inputs of different hierarchy levels are categorised in its entirety
in the same level of the fair value hierarchy as the lowest level input that is significant to the entire
measurement.
There were no transfers between the levels of fair value measurements during the financial year.
(a)
Assets and liabilities measured at fair value
The following table shows an analysis of each class of assets and liabilities measured at fair
value by level at the end of the reporting period:
Group
2014
$’000
Quoted prices
in active
markets for
identical
instruments
Significant
observable
inputs other
than quoted
prices
Total
(Level 1)
(Level 2)
Recurring fair value measurements
Assets
Financial assets:
Investment held for trading
– Equity instruments (quoted)
110
–
110
As at 31 December 2014
110
–
110
