Frontken Berhad Annual Report 2019

106 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2019 20. AMOUNTS OWING BY/(TO) SUBSIDIARIES (CONT’D) The Company 2019 2018 RM RM Allowance for impairment losses:- At 1 January (4,487,450) (3,244,451) Allowance for impairment losses - (1,242,999) Writeback of allowance for impairment losses 271,455 - Written off as bad debts 1,226,916 - At 31 December (2,989,079) (4,487,450) The amounts owing arose mainly from unsecured advances and payments made on behalf. In the previous financial year, the amount arising from unsecured advances bear interest ranging from 3.0% to 4.9% per annum and was partially settled in cash and waiver of debt. Whilst, the amount arising from payments made on behalf is interest-free. The amount owing is to be settled in cash. 21. SHORT-TERM INVESTMENTS The Group The Company 2019 2018 2019 2018 RM RM RM RM Unit trust 10,684,259 13,288,430 9,219,642 11,858,212 Fair value 10,684,259 13,288,430 9,219,642 11,858,212 22. SHARE CAPITAL The Group/The Company 2019 2018 2019 2018 Number of Shares RM RM Issued and fully paid-up At 1 January/31 December 1,053,435,130 1,053,435,130 118,925,352 118,925,352 The holders of ordinary shares (except treasury shares) are entitled to receive dividends as and when declared by the Company, and are entitled to one vote per ordinary share at meetings of the Company. The ordinary shares have no par value. 23 . TREASURY SHARES During the financial year, the Company did not purchase its issued ordinary shares from the open market. The shares purchased are being held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 and are presented as a deduction from total equity. As at 31 December 2019, the Company held 5,466,600 (2018: 5,466,600) treasury shares at a carrying amount of RM663,237 (2018: RM663,237). As at 31 December 2019, the number of outstanding ordinary shares in issue after the set-off of 5,466,600 (2018: 5,466,600) treasury shares held by the Company is 1,047,968,530 (2018: 1,047,968,530) ordinary shares. Notes To The Financial Statements (cont’d)