The American Club 2023/2024 Annual Report

PAGE 80

NOTES TO FINANCIAL STATEMENTS 30 JUNE 2024

4. FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (cont’d)

Fair value of financial instruments that are carried at fair value

The following table presents the information about how the fair value of the financial assets are determined:

Relationship and sensitivity of unobservable inputs(s) to fair value

Fair value hierarchy

Valuation technique(s) and key input(s)

Financial assets

Financial assets at FVOC I Quoted mutual funds

Level 1

Quoted bid prices in an active market.

Not applicable

Fixed income

Level 1

Quoted bid prices in an active market.

Not applicable

Alternative investments

Level 1

Quoted bid prices in an active market.

Not applicable

Derivative financial instrument Foreign currency forward contract

Level 2 Discounted cash flow. Future cash flows are estimated based on

Not applicable

forward exchange rates (from observable forward exchange rates at the end of the reporting period) and contract forward rates, discounted at a rate that reflects the credit risk of various counterparties

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024