17. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (“FVTOCI”) Group and Company 2024 2023 2022 $’000 $’000 $’000 (Restated) (Restated) Quoted equity shares 2,385 2,475 2,415 The equity shares are listed on the Catalist board of the Singapore Exchange Securities Trading Limited. The fair value of the investments in quoted equity shares were based on the quoted closing market prices on the last market day of the financial year. The investments classified as a Level 1 fair value hierarchy. Movements in financial assets at FVTOCI were as follows: Group and Company 2024 2023 2022 $’000 $’000 $’000 (Restated) (Restated) Balance at beginning of financial year 2,475 2,415 2,145 Fair value changes recognised in other comprehensive income (Note 26) (90) 60 270 Balance at end of financial year 2,385 2,475 2,415 The Group intends to hold these investments for long-term for appreciation in value as well as strategic investments purposes. The financial assets at FVTOCI are denominated in Singapore dollar. 18. INVENTORIES The cost of inventories recognised as an expense and included in “cost of sales” line item in profit or loss amounted to approximately $Nil (2023: $3,375,000). 106 KEONG HONG HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
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