BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
130
Notes to the
Financial Statements
for the financial year ended 31December 2013
31. Fairvalueof financial instruments
A.
Fair value of financial instruments by classes that are not carried at fair value andwhose carrying amounts are
reasonable approximationof fair value
The carrying amounts of the trade receivables, deposits, amount due from/(to) subsidiaries, and trade and other payables are
reasonable approximation of fair values, due to their short-termnature.
B.
Fair valueof financial instruments that are carriedat fair value
GroupandCompany
2013
2012
$
$
Non-current:
Available-for-sale financial assets
- 4.15% p.a. SGD corporate bond due 27October 2021 (quoted) - at fair value (Level 1)
2,117,444
–
Fair value hierarchy
The Group categories fair valuemeasurement using a fair value hierarchy that is dependent on the valuation inputs used as
follows:
-
Level 1 - Quoted prices (unadjusted) in activemarket for identical assets or liabilities that the Group can access at the
measurement date,
-
Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e., as prices) or indirectly (i.e., derived fromprices) and
-
Level 3 - Unobservable inputs for the asset or liability.
Fair valuemeasurements 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 entiremeasurement.
Determination of fair value
Quoted equity instruments:
Fair value is determined directly by reference to their published market bid price at balance
sheet date.
