NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (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 2024 2023 $’000 $’000 Equity instruments (quoted), at FVTPL At 1 January – 26,273 Total unrealised losses recognised in profit or loss, other income, net – (24,132) Disposal during the year – (2,033) Translation difference – (108) At 31 December – – Movements in Level 2 and 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 2 and 3). Group 2024 2023 $’000 $’000 Associates At 1 January 9,970 15,460 Total unrealised losses recognised in profit or loss, other income, net (1,869) (5,398) Translation difference 107 (92) At 31 December 8,208 9,970 Equity instruments (unquoted), at FVTPL At 1 January 15,606 16,445 Total unrealised losses recognised in profit or loss, other income, net (10,538) (657) Translation difference 296 (182) At 31 December 5,364 15,606 Equity instruments (unquoted), at FVOCI At 1 January 47,469 33,986 Addition during the year 11,445 11,002 Disposal during the year (668) – Changes in fair value of investments (1,836) 2,769 Translation difference 1,232 (288) At 31 December 57,642 47,469 71,214 73,045 198 ST ENGINEERING | ANNUAL REPORT 2024
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