Page 106 - ICD-AR22-English

Notes to the Separate Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022
The management has taken into account investee specific as well as the macro economic environment of
the investee. The investee specific inputs primarily included market multiples, actual business performance against expected and revisions to the business plans. The macroeconomic inputs included country or regional specific information as well as the foreign currency rates. In addition, management has implemented certain refinements to the valuation techniques to reflect appropriately the ever-changing circumstances and economic environment. The valuation techniques used to measure the fair value of equity investments classified in level 2 & 3 for each significant sector as at 31 December 2022 and 31 December 2021 are as follows:
Sector
Valuation technique
31 December 2022 USD
31 December 2021 USD
Financial Services
Industry and Mining
Social Services Others
At the beginning of the year
Market Comparable
Adjusted net asset value
Other techniques
Adjusted net asset value Discounted cashflows
Other techniques
Market comparable Residual method Adjusted net asset value Other techniques
69,490,541
75,043,708
119,313,267
2,456,518 10,648,093
-
1,164,936 38,340,857 8,840,406 1,150,000
318,848,883
72,428,811
83,841,180
113,944,989
2,712,110 13,787,773
552
1,264,239 39,193,575 8,079,166 1,150,000
270,060,030 30,045,272 (1,384,077)
14,530,755
5,596,903
8,394,621 823,714
2,063,520
Total
326,448,326
336,402,395
Reconciliation of level 3 items
31 December 2022 USD
31 December 2021 USD
Additions 3,500,000
Disposals (4,200,696)
Transferred from / (to) level 1 & 2
Fair value (losses)/ gains , net
13.4 Equity investment income through income statement: Fair value through income statement
-
(6,875,588)
At the end of the year
311,272,599
318,848,883
31 December 2022 USD
31 December 2021 USD
- Dividend 2,666,014
Others 722,337
3,388,351
11,281,855
104 ICD ANNUAL REPORT 2022