Fair values of financial instruments
The group uses the following hierarchy for determining and disclosing the fair value inputs of financial instruments:
Level 1 – quoted prices in an active market that are unadjusted for identical assets or liabilities;
Level 2 – valuation techniques using inputs, which are directly or indirectly observable; and
Level 3 – valuations based on data that is not observable (not applicable to the group).
The values of all other financial instruments recognised, but not subsequently measured at fair value, approximate fair value. The following assets, all measured at level 1, were required to be recorded at fair value as follows:
R‘000 | Half-year ended 31 December 2017 Unaudited Level 1 |
Half-year ended 31 December 2016 Unaudited Level 1 |
Year ended 30 June 2017 Audited Level 1 |
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Assets measured at fair value | |||||||||
Available-for-sale listed investments | 223 876 | 240 008 | 229 376 | ||||||
Available-for-sale unlisted investments | 21 559 | 27 363 | 24 098 | ||||||
245 435 | 267 371 | 253 474 |