NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 33. TEMPORARY EXEMPTION FROM FRS 109 As detailed in Note 2(w) of significant accounting policies, the Group has decided to apply for temporary exemption from FRS 109. The tables below present the disclosure requirements stipulated in Amendments to FRS 104 Insurance Contracts . (i) The fair value as at 31 December 2019 and the amount of change in the fair value during the period separately for other financial assets and loans are as follows: 2019 Life Insurance Par Fund $’000 Life Insurance Non-Par Fund $’000 Investment- Linked Fund $’000 General Insurance Fund $’000 Share holders' Fund $’000 Total $’000 Amortised cost (“Hold to collect” business model) – loans 95,941 – – – – 95,941 – other receivables 110,225 283 33,559 444 604 145,115 – cash and cash equivalents 415,478 125,575 55,489 45,903 33,716 676,161 Total financial assets at amortised cost 621,644 125,858 89,048 46,347 34,320 917,217 Fair value through other comprehensive income (“Hold to collect and sell” business model) Equities 18,846 – – – – 18,846 Debt securities – – – – – – Total financial assets at fair value through other comprehensive income 18,846 – – – – 18,846 Fair value through profit or loss – equities 4,959,846 1,430 711,731 – 158,522 5,831,529 – funds 2,971,800 471,651 1,279,995 365,295 295,862 5,384,603 – debt securities 18,909,803 3,145,375 428,091 980,458 657,802 24,121,529 – derivative financial instruments 190,857 11,969 2,942 5,644 9,782 221,194 27,032,306 3,630,425 2,422,759 1,351,397 1,121,968 35,558,855 Total fair value of financial assets 27,672,796 3,756,283 2,511,807 1,397,744 1,156,288 36,494,918 ANNUAL REPORT 2019 141