As stated in HKAS 41, if an active market does not exist, an entity uses one or more of the following, when available, in determining fair value:
(1) the most recent market transaction price, provided that there has not been a significant change in economic circumstances between the date of that transaction and the end of the reporting period;
(2) market prices for similar assets with adjustment to reflect differences;
(3) sector benchmarks such as the value of an orchard expressed per export tray, bushel, or hectare, and the value of cattle expressed per kilogram of meat.