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
2015
$’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
Liabilities
Financial liabilities:
Derivative financial instruments
– Forward currency contracts
–
(59)
(59)
As at 31 December 2015
–
(59)
(59)
114
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
