Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 155 18 AMOUNTS OWING BY/(TO) SUBSIDIARIES (CONTINUED) (a) Amounts owing by subsidiaries (continued) The movements in the allowance for impairment loss of amounts owing by subsidiaries during the financial year are as follows: Company 2017 RM'000 2016 RM'000 At 1 January 43,661 35,805 Impairment loss recognised - 8,485 Impairment loss reversed (555) (629) At 31 December 43,106 43,661 The Company’s amounts owing by subsidiaries exposure to foreign currency (a currency which is other than the functional currency of the Company) risk, based on carrying amounts as at the end of the financial year, were: Company 2017 RM'000 2016 RM'000 - United States Dollar 89,348 210,969 (b) Amounts owing to a subsidiary Company 2017 RM'000 2016 RM'000 Non-trade account 1,291 372 The Company’s amounts owing to a subsidiary are denominated in Ringgit Malaysia, unsecured, interest free and repayable on demand. 19 AMOUNTS OWING BY/(TO) ASSOCIATES (a) Amounts owing by associates Group Company 2017 RM'000 2016 RM'000 2017 RM'000 2016 RM'000 Trade accounts 6,601 5,709 - - Advances 6,121 8,908 13 - 12,722 14,617 13 - Less: Allowance for impairment loss - (1,441) - - 12,722 13,176 13 -