140 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 31 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (“FVOCI”) 2021 2020 Group RM’000 RM’000 At 1 January 144,251 107,434 Additions 3,541 3,521 Fair value changes 53,908 47,406 Disposals – (14,007) Currency translation differences (131) (103) At 31 December 201,569 144,251 Analysed as: Non-current 201,569 144,251 In the previous financial year, the Group disposed an equity security after covering the return of the investment. The Group recorded a fair value gain of RM14.01 million through other comprehensive income and dispose off for a consideration of RM14.01 million, resulting in no gain or loss on disposal. The accumulated fair value gain relates to the investment in other comprehensive income reserve was transferred to retained earnings at the point of disposal. The financial assets at FVOCI comprise the following: 2021 2020 RM’000 RM’000 Quoted equity securities: – In Malaysia 2,975 3,566 Unquoted equity securities: – In Malaysia 53,498 53,496 – Outside Malaysia 145,096 87,189 201,569 144,251 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: 2021 2020 RM’000 RM’000 – Ringgit Malaysia 56,473 57,062 – United States Dollar 145,096 87,189 201,569 144,251 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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