Notes to the Financial Statements For the financial year ended 31 December 2024 31 FAIR VALUE OF ASSETS AND LIABILITIES (continued) (b) Fair value hierarchy (continued) Accounting classification and fair values (i) Financial assets and financial liabilities carried at fair value Fair value Level 1 Level 2 Level 3 Total $’M $’M $’M $’M The Group 31 December 2024 Equity investments at FVOCI 45 – – 45 Equity investments at FVTPL 2 – 137 139 Derivative financial assets – 18 – 18 47 18 137 202 Derivative financial liabilities – (27) – (27) 47 (9) 137 175 31 December 2023 Equity investments at FVOCI 48 – – 48 Equity investments at FVTPL 3 – 100 103 Derivative financial assets – 128 – 128 51 128 100 279 Derivative financial liabilities – (24) – (24) 51 104 100 255 The Company There were no financial assets and financial liabilities carried at fair value as at 31 December 2024 or 31 December 2023. (ii) Non-financial assets carried at fair value The following table shows the carrying amounts and fair values of significant non-financial assets, including their levels in the fair value hierarchy. Fair value Note Level 3 $’M The Group 31 December 2024 Non-financial assets measured at fair value Investment properties 5 4,995 31 December 2023 Non-financial assets measured at fair value Investment properties 5 13,572 Assets held for sale – investment properties 13 731 14,303 166 CapitaLand Investment Limited Notes to the Financial Statements For the financial year ended 31 December 2024 31 FAIR VALUE OF ASSETS AND LIABILITIES (continued) (b) Fair value hierarchy (continued) Accounting classification and fair values (continued) (iii) Financial assets and financial liabilities not carried at fair value The following table presents the fair value of financial assets and financial liabilities measured at amortised cost, except for those financial assets and financial liabilities whose carrying amounts approximate their fair values due to their short-term nature or where the effect of discounting is immaterial. Carrying value Fair value Note Financial liabilities at amortised cost Total carrying amount Level 1 Level 2 Level 3 Total $’M $’M $’M $’M $’M $’M The Group 31 December 2024 Other non-current liabilities# (386) (386) – – (376) (376) Bank borrowings^ 16 (5,692) (5,692) – (5,609) – (5,609) Debt securities 17 (1,630) (1,630) – (1,635) – (1,635) 31 December 2023 Other non-current liabilities# (444) (444) – – (431) (431) Bank borrowings^ 16 (9,800) (9,800) – (9,779) – (9,779) Debt securities 17 (2,062) (2,062) – (2,085) – (2,085) # Excludes liability for employee benefits, derivative financial instruments and deferred income. ^ Excludes lease liabilities. The Company The carrying amount of financial assets and financial liabilities measured at amortised cost, is a reasonable approximation of fair value as at 31 December 2024 and 31 December 2023 respectively. 167 Annual Report 2024
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