144 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 30 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (“FVOCI”) Group 2022 RM’000 2021 RM’000 At 1 January 201,569 144,251 Additions 2,706 3,541 Disposals (4,648) - Fair value changes (34,965) 53,908 Currency translation differences (1,992) (131) At 31 December 162,670 201,569 Analysed as: Non-current 162,670 201,569 The financial assets at FVOCI comprise the following: 2022 RM’000 2021 RM’000 Quoted equity securities: - In Malaysia 3,263 2,975 Unquoted equity securities: - In Malaysia 69,100 53,498 - Outside Malaysia 90,307 145,096 162,670 201,569 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: 2022 RM’000 2021 RM’000 - Ringgit Malaysia 72,363 56,473 - United States Dollar 90,307 145,096 162,670 201,569 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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