184 Notes to the Consolidated Financial Statements 31 December 2023 16. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS As at 31 December 2023 As at 31 December 2022 US$’000 US$’000 Current Listed equity investments, at fair value (note (i)) 34,494 21,883 Non-current Unquoted equity interests, at fair value (note (ii)) 802,820 752,851 837,314 774,734 Notes: (i) Listed equity investments at fair value represent the Group’s investments in publicly listed companies, which are quoted in active markets. (ii) The fair value of these investments is estimated based on the Group’s share of the net asset value of the investment funds and associates. In accordance with the exemption in IAS 28 Investments in associates, the Group has elected to measure its investments in associates and joint ventures at fair value through profit or loss in accordance with IFRS 9. This exemption is related to the fact that fair value measurement provides more useful information for users of the financial statements than application of the equity method. This is an exemption from the requirement to measure interests in associates using the equity method, rather than an exception to the scope of IAS 28 for the accounting for associates and a joint venture. 17. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME As at 31 December 2023 As at 31 December 2022 US$’000 US$’000 Listed equity investments, at fair value 820,246 781,180 Unlisted equity investments, at fair value 230,196 195,215 1,050,442 976,395 Listed equity investments at fair value represent the Group’s investments in publicly listed companies, which are quoted in active markets. The fair value of unlisted equity investments is estimated based on the Group’s share of the net asset value of the investment funds. As at 31 December 2023, the above equity investments of US$1,050,442,000 (2022: US$976,395,000) were irrevocably designated at fair value through other comprehensive income as the Group considers these investments to be strategic in nature. During the year, the Group recognised loss arising from its equity investments amounted to US$86,251,000 (2022: US$186,003,000) in other comprehensive income. The Group also recognised dividend income in respect of its equity investments amounted to US$60,313,000 (2022: US$79,967,000) in the statement of profit or loss. STRENGTH IN UNITY
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