the investments held are classified on the statement of financial position as FVOCI and FVTPL. The Group and the Company mainly invest in unit trust funds, primarily in short term deposits as underlying instruments with minimal price risk. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 333 45 FINANCIAL INSTRUMENTS (CONTINUED) (b) Financial risk management (continued) Fair value of financial instruments The carrying amounts of deposits, bank and cash balances, short term receivables and payables, short term borrowings, short term amount due from/(to) subsidiaries and short term derivative financial instruments approximate their fair values and are equivalent to nominal values due to the relatively short term nature of these financial instruments. The table below analyses financial instruments carried at fair value and those not carriedat fair value for which fair value is disclosed, together with their fair values and carrying amounts shown in the statement of financial position. The classifications in the fair value hierarchy of the Group’s and of the Company’s assets and liabilities measured at fair value are summarised in the table below: Fair value of financial instruments carried at fair value Fair value of financial instruments not carried at fair value Total fair value RM’million Carrying amount RM’million Level 1 RM’million Level 2 RM’million Level 3 RM’million Total RM’million Level 1 RM’million Level 2 RM’million Level 3 RM’million Total RM’million 2023 Group Financial assets Investment in unquoted debt security 0 0 0 0 0 0 259.3 259.3 259.3 259.3 Long term receivables 0 0 0 0 0 32.3 0 32.3 32.3 46.8 Derivative financial instruments 0 76.2 91.8 168.0 0 0 0 0 168.0 168.0 Financial assets at FVOCI 0 0 55.1 55.1 0 0 0 0 55.1 55.1 Financial assets at FVTPL 1,583.9 66.1 0 1,650.0 0 0 0 0 1,650.0 1,650.0 1,583.9 142.3 146.9 1,873.1 0 32.3 259.3 291.6 2,164.7 2,179.2 Financial liabilities Borrowings 0 0 0 0 48,068.9 15,070.3 0 63,139.2 63,139.2 61,770.2 Other financial