Annual Report 2024

260 2024 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 33 Financial risk management and fair values of financial instruments (continued) (e) Fuel price risk It is the Group’s policy to closely monitor fuel price movements. The Group had not entered into any fuel oil swap contract during the years ended 31 December 2024 and 2023. (f) Fair values measurement (i) Financial instruments measured at fair value Fair value hierarchy The following table presents the fair value of the Group’s financial instruments measured at the end of the reporting period on a recurring basis, categorised into the three-level fair value hierarchy as defined in HKFRS 13, Fair value measurement . The level into which a fair value measurement is classified is determined with reference to the observability and significance of the inputs used in the valuation technique as follows: – Level 1 valuations: Fair value measured using only Level 1 inputs i.e. unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date – Level 2 valuations: Fair value measured using Level 2 inputs i.e. observable inputs which fail to meet Level 1, and not using significant unobservable inputs. Unobservable inputs are inputs for which market data are not available – Level 3 valuations: Fair value measured using significant unobservable inputs 2024 2023 Fair value measurements categorised into Fair value measurements categorised into Fair value Level 1 Level 2 Level 3 Fair value Level 1 Level 2 Level 3 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Recurring fair value measurements Assets: Investments in financial assets measured at FVOCI (recycling) 407,468 407,468 – – 627,464 627,464 – – Other financial assets measured at FVPL 5,868 5,868 – – 5,199 5,199 – – Unlisted equity securities 998,075 – – 998,075 1,033,669 – – 1,033,669 Derivative financial instruments – other forward foreign exchange contracts 54 – 54 – 156 – 156 – Liabilities: Derivative financial instruments – other forward foreign exchange contracts – – – – (1) – (1) – During the years ended 31 December 2024 and 2023, there were no transfers between Level 1 and Level 2, or transfers into or out of Level 3. The Group’s policy is to recognise transfers between levels of fair value hierarchy as at the end of the reporting period in which they occur.