The Group is not subject to any externally imposed capital requirements except

The group is not subject to any externally imposed

This preview shows page 87 - 90 out of 102 pages.

The Group is not subject to any externally imposed capital requirements, except for a subsidiary of the Group as disclosed in Note 20 which is required by the Foreign Enterprise Law of the PRC to contribute to and maintain a non-distributable statutory reserve fund whose utilisation is subject to approval by the relevant PRC authorities. This externally imposed capital requirement has been complied with by the subsidiary for the financial years ended 31 December 2017 and 2016.The Group’s overall strategy remains unchanged from 2016.
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NOTES TO THE FINANCIAL STATEMENTSFINANCIAL YEAR ENDED 31 DECEMBER 2O17 (cont’d)HB GLOBAL LIMITED lAnnual Report 20178734. FAIR VALUE OF FINANCIAL INSTRUMENTS(a) Fair value of financial instruments that are carried at fair valueFair value hierarchyThe Group classifies fair value measurement using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels:Level 1 - Quote prices (unadjusted) in active markets for identical assets or liabilities;Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; andLevel 3 - Inputs for the asset or liability that are not based on observable market data (unobservable inputs). There has been no transfer between Level 1 and Level 2 fair value measurements during the financial years ended 31 December 2017 and 2016.(b) Fair value of financial instruments by classes that are not carried at fair value and whose carrying amounts are reasonable approximation of fair valueManagement has determined that the carrying amounts of current financial assets and liabilities approximate their fair values because these instruments are short-term in nature or repriced frequently.35. SUPPLEMENTARY INFORMATION – BREAKDOWN OF ACCUMULATED PROFITS/(LOSSES) INTO REALISED AND UNREALISEDThe breakdown of the accumulated profits/(losses) of the Group and of the Company as at 31 December 2017 into realised profit/(loss) and unrealised profit is presented in accordance with the directive issued by Bursa Securities dated 25 March 2010 and prepared in accordance with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to MMLR, as issued by the Malaysian Institute of Accountants.Group Company 2017 2016 2017 2016RMB’000 RMB’000 RMB’000 RMB’000Total accumulated profit/(loss) of the Company and its subsidiaries- Realised profit/(loss) 92,585 71,269 (11,037) (9,007)- Unrealised loss (307) (1,100) (307) (1,100)92,278 70,169 (11,344) (10,107)
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NOTES TO THE FINANCIAL STATEMENTSFINANCIAL YEAR ENDED 31 DECEMBER 2O17 (cont’d)HB GLOBAL LIMITED lAnnual Report 20178836. NEW ACCOUNTING STANDARDS AND INTERPRETATIONS ISSUED BUT NOT YET EFFECTIVENew standards, amendments to standards and interpretations that have been issued but not yet effective for the financial year ended 31 December 2017 have not been applied in preparing these financial statements.
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