NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 33. TEMPORARY EXEMPTION FROM FRS 109 (CONTINUED) (iii) Financial assets with low credit risk are those which have a low risk of default, the issuer or borrower has a strong capacity to meet its contractual cash flow obligations in the near term and ability to fulfil its obligations may, but will not necessarily, be reduced by adverse changes in economic and business conditions in the long term. For financial assets that do not have low credit risk as at 31 December 2019, the fair value and the carrying amount under FRS 109 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 11 – – – – 11 – other receivables 391 – – – – 391 Total financial assets at amortised cost 402 – – – – 402 Fair value through other comprehensive income (“Hold to collect and sell” business model) Debt securities – – – – – – Total financial assets at fair value through other comprehensive income – – – – – – Total fair value of financial assets 402 – – – – 402 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 Carrying amount Amortised cost (“Hold to collect” business model) – loans 11 – – – – 11 – other receivables 391 – – – – 391 Total financial assets at amortised cost 402 – – – – 402 Fair value through other comprehensive income (“Hold to collect and sell” business model) Debt securities – – – – – – Total financial assets at fair value through other comprehensive income – – – – – – Total fair value of financial assets 402 – – – – 402 146 HERE FOR SURE