26
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FINANCIAL RISK MANAGEMENT AND FAIR VALUES OF FINANCIAL INSTRUMENTS (Continued)
(e) Fair value measurement (Continued;
Financial assets Pradedal fo des continued)
Fair value hierarchy (Continued)
Recurring fair value measurements
Financial assets:
- Listed
Available-for-sale securities:
Recurring fair value measurement
Fair value measurements as at 31 December 2017 categorised into
Fair value at 31 December
2017
HK$'000
Level 1
HK$'000
Level 2
HK$'000
Level 3
HK$'000
176,306
Fair value measurements as at
176,306
31 December 2016 categorised into
Fair value at 31 December
2016
HK$'000
Level 1 HK$'000
Level 2 HK$000
Level 3
·HK$'000
Financial assets:
Available-for-sale securities:
- Listed
661,542
661,542
Financial assets designated at fair
value through profit or loss
20,000
20,000
During the year ended 31 December 2017, there were no transfers between Level 1 and Level 2, or transfers into or out of Level 3 (2016: Nil). The Group's policy is to recognise transfers between levels of fair value hierarchy as at the end of the reporting period in which they occur.
Valuation techniques and inputs used in Level 2 fair value measurements
The fair value of financial assets designated at fair value through profit or loss is based on the pricing model taking into account the market closing prices of the underlying equity securities and/or index, volatilities, correlations and interest rates, which are observable market data, at the end of the reporting period.
(ii)
Fair values of financial assets and labile imed
-
The carrying amounts of the Group's financial instruments carried at cost or amortised cost are not materially different from their fair values as at 31 December 2017 and 2016.
145
Hong Kong Ferry (Holdings) Company Limited Annual Report 2017