FGV HOLDINGS BERHAD | AUDITED FINANCIAL STATEMENTS 2023 159 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 29 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (“FVOCI”) Group 2023 RM’000 2022 RM’000 At 1 January 162,670 201,569 Additions 1,997 2,706 Disposals - (4,648) Fair value changes (7,676) (34,965) Currency translation differences 3,982 (1,992) At 31 December 160,973 162,670 Analysed as: Non-current 160,973 162,670 The financial assets at FVOCI comprise the following: 2023 RM’000 2022 RM’000 Quoted equity securities: - In Malaysia 3,257 3,263 Unquoted equity securities: - In Malaysia 77,490 69,100 - Outside Malaysia 80,226 90,307 157,716 159,407 The Group has irrevocably elected non-trading equity securities above at initial recognition to present its fair value changes in other comprehensive income. The Group considers this classification to be more relevant as these instruments are strategic investments of the Group and not held for trading purpose. Financial assets at FVOCI are denominated in the following currencies: 2023 RM’000 2022 RM’000 - Ringgit Malaysia 80,747 72,363 - United States Dollar 80,226 90,307 160,973 162,670 The fair values of unquoted securities are based on the average of price-to-book or price earnings ratio of similar equities in the market and is a Level 3 fair value computation (Note 4(c)).
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