ANNUAL REPORT 2015
63
Notes to the Combined
Financial Statements
As at 30 September 2015
4
FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL RISKS MANAGEMENT (cont’d)
The Group determines fair values of various financial assets in the following manner:
Fair value of the Group’s financial assets that are measured at fair value on a recurring basis
Some of the Group’s financial assets are measured at fair value at the end of each financial year. The following
table gives information about how the fair values of these financial assets are determined (in particular, the valuation
technique(s) and inputs used).
Group
Financial
assets
Fair value ($)
Fair value
hierarchy
Valuation
technique
and key
input
Significant
unobservable
input
Relationship of
unobservable
inputs to fair
value
2015
2014
Short-term investments (see Note 8 to the financial statements)
Listed
equity
shares
329,202
3,390,814
Level 1
Quoted bid
prices in an
active market.
N/A
N/A
There were no transfers between the levels of the fair value hierarchy during the financial year.
Fair value of the Group’s financial assets and financial liabilities that are not measured at fair value on a recurring basis
(but fair value disclosures are required)
Except as detailed in the following table, management considers that the carrying amounts of financial assets and
financial liabilities recorded at amortised cost in the financial statements approximate their fair values:
2015
2014
Carrying
amount
Fair
value
Carrying
amount
Fair
value
$
$
$
$
Group
Financial liabilities
Finance leases (Note 17)
135,000
147,690
314,583
348,269
The fair value of the finance leases represent the minimum lease payments based on contractual terms.
(c)
Capital risk management policies and objectives
The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximising
the return to shareholders through the optimisation of the debt and equity balance. The Group’s overall strategy remain
unchanged from 2014. The capital structure of the Group consists of equity attributable to owners of the Company, comprising
issued capital, reserves and retained earnings. The Group is not subject to any external imposed capital requirements.
