NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C15 Classification and fair value of financial instruments (continued) Movements in Level 1 financial instruments measured at fair value The following table presents the reconciliation for all financial instruments measured at fair value based on quoted price (Level 1). Group 2022 $’000 2021 $’000 Equity instruments (quoted), at FVTPL At 1 January – – Transfer from equity instruments (unquoted), at FVTPL 9,461 – Total unrealised gains recognised in profit or loss, other income, net 17,313 – Translation difference (501) – At 31 December 26,273 – Movements in Level 3 financial instruments measured at fair value The following table presents the reconciliation for all financial instruments measured at fair value based on significant unobservable inputs (Level 3). Group 2022 $’000 2021 $’000 (restated) Associates At 1 January 34,215 20,858 Addition during the year 750 2,203 Disposal during the year (20,976) – Total unrealised gains recognised in profit or loss, other income, net 1,471 11,154 At 31 December 15,460 34,215 Equity instruments (unquoted), at FVTPL At 1 January 15,180 9,255 Transfer to equity instruments (quoted), at FVTPL (9,461) – Addition during the year 12,701 5,719 Total unrealised (losses)/gains recognised in profit or loss, other income, net (1,975) 206 At 31 December 16,445 15,180 Equity instruments (unquoted), at FVOCI At 1 January 20,949 13,883 Addition during the year 15,994 7,066 Changes in fair value of investments (2,957) – At 31 December 33,986 20,949 65,891 70,344 202 ST ENGINEERING ANNUAL REPORT 2022
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