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11Financial assets designated at FVOCI (equity instruments)Upon initial recognition, the Group can elect to irrevocably classify its equity investmentswhich are not held for trading as equity instruments designated at FVOCI. The classification is determined on an instrument-by-instrument basis. Gains and losses recognised in other comprehensive income on these financial assets are never recycled to profit or loss. Dividends are recognised as other income in profit or loss, except when the dividends clearly represent a recovery of part of the cost of the financial asset, in which case, the gains are recognised in other comprehensive income. Equity instruments designated at FVOCI are not subject to impairment assessment.Classification and measurement of financial liabilitiesAt initial recognition the Group%u2019s financial liabilities are recognised at fair value net oftransaction costs and classified as liabilities to be subsequently measured at amortised costusing the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. In determining amortised cost, the Group takes into account any discounts or premiums on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance costsin profit or loss.Regular way purchases and sales of financial assetsRegular way purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace are recognised on the trade date, i.e., the date on which the Group commits to purchase or sell the asset. Derecognition of financial instrumentsA financial asset is primarily derecognised when the rights to receive cash flows from the asset have expired or have been transferred and either the Group has transferred substantially all the risks and rewards of the asset, or the Group has transferred control of the asset.A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in profit or loss.Super Turtle Public Company Limited 127Introduction Nature of Business Business Performance Corporate Information Corporate Governance Financial Report Attachment