FAIR VALUE AS AT 30 APRIL 2019
CARRYING
AMOUNT
QUOTED PRICES
IN ACTIVE
MARKETS
FOR IDENTICAL
INSTRUMENTS
OTHER
SIGNIFICANT
OBSERVABLE
INPUTS
SIGNIFICANT
UNOBSER-
VABLE INPUTS
TOTAL
LEVEL 1
LEVEL 2
LEVEL 3
Recurring measurements
NOTES
R’m
R’m
R’m
R’m
Assets
Grain commodities 10 155 155 - -
Inventory held to satisfy firm sales 12 234 - 234 -
Investment in financial assets at fair
value through other comprehensive
income
Investment in RealFin Collective
Investment Scheme
7.1.1 5 - - 5
8.2 28 - 28 -
Safex futures 20.1 52 52 - -
Investment in Senwes (company) 6.1 1 052 1 052 - -
Total assets 1 526 1 259 262 5
Liabilities
Commodity finance 7.2.2 121 121 - -
Forward purchase contracts 20.2 28 28 - -
Safex futures 20.2 2 2 - -
Total liabilities 151 151 - -
Techniques used to determine fair value measurements categorised in level 1:
All items categorised in level 1 are revalued by applying the market value as determined by Safex (South African Futures
Exchange). However, the investment in Senwes Limited is revalued based on the traded share prices as indicated on ZARX.
Techniques used to determine fair value measurements categorised in level 2:
RealFin Collective Investment Scheme’s inputs can indirectly be observed through the cash balances and financial position
of the fund.
Techniques used to determine fair value measurements categorised in level 3:
Suidwes Holdings investment
The shares of Suidwes Holdings are still traded on the OTC market, but not actively. During the current financial year the
investment has been fully impaired due to recoverability concerns. The investment is therefore valued at Rnil in the financial
statements. Also refer to note 7.1.1.
Investments held by Thobo Trust
Shares held by Thobo Trust in Hinterland Fuels (Pty) Ltd and Oos-Transvaal Kalkverskaffers (Pty) Ltd. These companies are both
private companies and discounted cash flow calculations were used to determine the fair values.
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 70