Annual Report 2019

167 ANNUAL REPORT 2019 3. FINANCIAL RISK MANAGEMENT (CONTINUED) 3.3 Fair value estimation (continued) (i) Fair value of financial instruments that are measured at fair value on a recurring basis (continued) The following table presents the changes in level 3 instruments for the years ended 31 December 2019 and 2018: Financial Equity Financial assets at instruments liabilities FVTPL at FVTOCI at FVTPL HK$’million HK$’million HK$’million Year ended 31 December 2019 As at 1 January 2019 612 110 (4,383) Transfer to interests in associates (282) (102) — Transfer to level 2 (469) — — Additions 49 — — Written off (2) — — Exchange adjustments (2) — 163 Settlement — — 102 Unrealised fair value gain/(loss) recognised in profit or loss 97 — (414) Unrealised fair value gain recognised in other comprehensive income (included in other reserves) — 1 — As at 31 December 2019 3 9 (4,532) Year ended 31 December 2018 As at 1 January 2018 752 120 — Additions 2 — — Arising from acquisition of subsidiaries (note 40) — — (5,091) Disposal (40) — — Disposal of subsidiaries (note 39) — (168) — Exchange adjustments (23) — 706 Settlement — — 151 Unrealised fair value loss recognised in profit or loss (79) — (149) Unrealised fair value gain recognised in other comprehensive income (included in other reserves) — 158 — As at 31 December 2018 612 110 (4,383)