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52
Dar Al-Maal Al-Islami Trust
Annual Report 2011
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Thousands of US dollars)
11. Fair value of financial
instruments
(continued)
Assets and liabilities measured at fair value
At 31 December 2010
Level 1
Level 2
Level 3
Total
Trading securities
- Equity securities
3
-
8,608
8,611
- Debt securities
-
-
32,732
32,732
Investment securities - available-for-sale
- Equity securities
7,132
3,055 799,217 809,404
- Debt securities
-
-
307,582 307,582
Derivatives held for trading
477
-
-
477
Total assets
7,612
3,055 1,148,139 1,158,806
Derivatives held for trading
-
-
44,698
44,698
Total liabilities
-
-
44,698
44,698
Reconciliation of Level 3 items
Trading securities
Investment securities
Equity
Debt
Equity
Debt
Total
Financial liabilities Total
Securities
securities
securities
securities
Assets
held for trading liabilities
At 1 January 2010
-
-
1,648
-
1,648
-
-
Conversion of an
associate to a subsidiary 30,680 9,535 687,975 440,437 1,168,627
-
-
Total profit/(loss)
Profit/(loss)
1,876
917 57,898 35,522 96,213 5,348
5,348
- Other comprehensive
income/(loss)
-
-
-
(1,543)
(1,543)
-
-
Purchases
21,591 1,398,197 73,653 1,331,306 2,824,747 39,350
39,350
Sales
(45,539)(1,375,917) (21,957)(1,498,140)(2,941,553)
-
-
At December 2010
8,608 32,732 799,217 307,582 1,148,139 44,698
44,698
Total Profit/(losses) for the year included in profit or loss for assets/liabilities held
At 31 December 2010
10,462
-
82,663
-
93,125
-
-
Sensitivity of Level 3 measurements to reasonably possible alternative assumptions
An assumed ± 10% movement in the fair value of level 3 measurement has the following impact:
Impact in equity
At 31 December 2011
Favourable changes Unfavourable changes
Trading securities
-
-
Investment securities – available for sale
95,548
(95,548)
At 31 December 2010
Trading securities
4,134
(4,134)
Investment securities – available for sale
110,680
(110,680)