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162 TRANS FORMATION
NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2011
42 FAIR VALUE OF FINANCIAL INSTRUMENTS (cont’d)
C. Fair value of financial instruments by classes that are not carried at fair value and whose carrying amounts
are not reasonable approximations of fair value
The fair value of financial assets and liabilities by classes that are not carried at fair value and whose carrying
amounts are not reasonable approximations of fair value are as follows:
Group Company
2011 2010 2011 2010
Note $’000 $’000 $’000 $’000
Carrying Fair Carrying Fair Carrying Fair Carrying Fair
Amount Value Amount Value Amount Value Amount Value
Financial assets:
Available-for-sale
investment securities 20 – – 4 * – – 4 *
Financial liabilities:
Fixed rate term loans 31 262,059 269,766 107,432 112,285 – – – –
Fixed rate notes 31 223,907 223,448 – – 223,907 223,448 – –
Available-for-sale investment securities carried at cost
* Fair value information had not been disclosed for these investment securities because fair value cannot
be measured reliably and the amount was immaterial. These investment securities represented shares
in a company that are not quoted on any market.
Fixed rate term loans
The fair value as disclosed in the table above is estimated based on the present value of future cash flows,
discounted at the market rate of interest for similar types of lending or borrowings at the end of the reporting
period.
Fixed rate notes
The fair value as disclosed in the table above is the bid price on the last trading day in the Singapore Exchange
Securities Trading Limited (SGX-ST).