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LAPORAN TAHUNAN 2005 ANNUAL REPORT

  • 34.

    FINANCIAL INSTRUMENTS (CONTD.)

    • (f)

      Fair Values

The carrying amounts of financial instruments of the Group and of the Company at the balance sheet date approximate their fair values.

It is not practical to estimate the fair values of the amounts due to and from subsidiaries and associated companies due principally to a lack of fixed repayment term entered by the parties involved and without incurring excessive costs. However, the Group does not anticipate the carrying amounts recorded at the balance sheet date to be significantly different from the values that would eventually be received or settled.

The following methods and assumptions are used to estimate the fair values of the following classes of financial instruments:

  • (i)

    Cash and Cash Equivalents and Trade and Other Receivables/Payables The carrying amounts approximate fair values due to the relatively short term maturity of these financial instruments.

  • (ii)

    Marketable Securities

The fair value of quoted shares is determined by reference to stock exchange quoted market bid prices at the close of the business on the balance sheet date.

(iii) Borrowings The carrying amounts approximate fair values due to the relatively short term maturity of these financial instruments.

(iv) Term Loan The carrying amounts approximate fair values for term loan at floating rates which is repriced immediately when there are changes in interest rate.

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