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CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
37.
FAIR VALUE OF ASSETS AND LIABILITIES
(CONTINUED)
(d)
Assets and liabilities not carried at fair value but for which fair value is disclosed
(Continued)
Determination of fair value
Investment in associate
The fair value as disclosed in the table above is the last traded price of StemLife on the Bursa Malaysia
Exchange as at 30 June 2015 (2014: 30 June 2014).
Leasehold building
The valuation of leasehold building is based on comparable market transactions that consider sales of
similar properties that have been transacted in the open market.
(e)
Fair value of financial instruments by classes that are not carried at fair value and whose carrying
amounts are not a reasonable approximation of fair value
Non-current amounts owing to subsidiary are stated at cost because there are no fixed terms of
repayment. The fair values of these amounts are not determinable, as the timing of the future cash
flows arising from these amounts cannot be estimated reliably.
(f)
Fair value of financial instruments by classes that are not carried at fair value and whose carrying
amounts are a reasonable approximation of fair value
Management has determined that the carrying amounts of cash and cash equivalents, fixed deposits,
trade and other receivables, current amounts owing by/(to) subsidiaries and trade and other payables,
based on their notional amounts, reasonably approximate their fair values because of their short term
nature.
The carrying amount of long term trade receivables approximates their fair values as these amounts
have been discounted to their present value using market determined risk adjusted discount rates for
the Group.
The carrying amounts of long term other receivables bear interest at fixed rates which approximate
market rates. Accordingly, their notional amounts approximate their fair values.
The carrying amount of interest-bearing borrowings (current and non-current) reasonably approximate
their fair values as they are floating rate instruments that are re-priced to market interest rates on or
near the end of the reporting period.
