AUDITED FINANCIAL STATEMENTS 2022 69 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 4 FINANCIAL RISK MANAGEMENT (CONTINUED) (c) Fair value estimation (continued) (ii) Financial instruments in Level 2 The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2. Instruments included in Level 2 comprise foreign currency forward contracts and Islamic profit rate swap. If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. (iii) Financial instruments in Level 3 The following table present the changes in recurring Level 3 financial instruments during the financial year: Group 2022 RM’000 2021 RM’000 LLA liability At 1 January 3,804,790 4,213,824 Fair value changes charged to profit or loss 352,870 3,984 Repayment during the financial year (477,306) (413,018) At 31 December 3,680,354 3,804,790 Financial assets at fair value through other comprehensive income At 1 January 198,594 140,685 Additions 2,706 3,541 Disposal (4,648) - Fair value changes (35,253) 54,499 Currency translation differences (1,992) (131) At 31 December 159,407 198,594 (d) Offsetting financial assets and financial liabilities There are no offsetting of financial assets and financial liabilities during the financial year for the Group and Company.
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