NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 41 FINANCIAL INSTRUMENTS (CONT’D) (v) Accounting classifications and fair values (cont’d) Measurement of fair values (cont’d) Transfers between levels in the fair value hierarchy The Group and Company did not reclassify any investments between various levels in the fair value hierarchy during the year. Level 3 fair values The following table shows a reconciliation from the beginning balances to the ending balances for fair value measurements in Level 3 of the fair value hierarchy: Group Company Unquoted equity investments at FVOCI Unquoted equity investments mandatorily at FVTPL Unquoted equity investments at FVOCI $’000 $’000 $’000 At 1 January 2025 416,299 246,195 394,133 Additions – 6,902 – Distribution of income and return of capital – (42,525) – Total gains recognised in profit or loss – finance income – 2,524 – Total profit for the period included in other comprehensive income – net change in fair value of equity investments at FVOCI 55,855 – 52,751 Translation differences on consolidation – (11,417) – At 31 December 2025 472,154 201,679 446,884 At 1 January 2024 426,353 184,489 404,089 Additions – 45,644 – Distribution of income and return of capital – (6,170) – Total gains recognised in profit or loss – finance income – 17,049 – Total loss for the period included in other comprehensive income – net change in fair value of equity investments at FVOCI (10,054) – (9,956) Translation differences on consolidation – 5,183 – At 31 December 2024 416,299 246,195 394,133 ANNUAL REPORT 2025 | 225
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