Page 283 - PWA_2023_Annual_Report

Provincial Waterworks Authority Annual Report 2023 281

6.3 Fair value of financial instruments (cont.)
Unit : Million Baht

Financial statement-equity method applied/
Separate financial statements
Fair value
Accounting
Level 1 Level 2 Level 3 Total value

As at 30 September 2023
Financial assets measured by
Fair value
Investment in equity measured
by fair value method through
other comprehensive income - - 38.85 38.85 38.85
Financial liabilities disclosed by
Fair value
Long-term loan - 16,906.47 3,425.06 20,331.53 20,803.86

Unit : Million Baht
Financial statement-equity method applied/
Separate financial statements
Fair value
Accounting
Level 1 Level 2 Level 3 Total value

As at 30 September 2022
Financial assets measured by
Fair value
Investment in equity measured
by fair value method through
other comprehensive income - - 38.13 38.13 38.13
Financial liabilities disclosed by
Fair value
Long-term loan - 15,323.60 3,090.07 18,413.67 18,839.53

Fair value estimation techniques and data used for measuring fair value level 2
Fair value of long-term loan - bond is estimated by the last closed price or the last referential
interest rate from the Thai Bond Market Association, or may be calculated with reference to selling price
observed in the secondary market of the Thai Bond Market Association which offers long-term loans for sale
in market with liquidity.

Fair value estimation techniques and data used for measuring fair value level 3

Fair value of equity instrument and long-term loan - domestic loan is estimated based on
present value calculation technique of future cash flow and risk-adjusted discount rate model at the end
of installment. The relevant observed data in the market, e.g., exchange rate and interest rate, are also used
to assess the fair value.