8. FINANCING, ADVANCES AND OTHERS (CONTINUED) (k) Movement of allowance for impairment on financing, advances and others Group and Bank Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 At 1 January 2020 431,135 148,115 172,197 751,447 Transfer to Stage 1 1,245 (1,179) (66) – Transfer to Stage 2 (7,782) 10,508 (2,726) – Transfer to Stage 3 (264) (7,659) 7,923 – Changes in credit risk 134,059 13,592 60,558 208,209 New financial assets originated or purchased 139,295 6,403 686 146,384 Financial assets that have been derecognised (44,708) (18,334) (3,364) (66,406) Write-offs – – (112,676) (112,676) Exchange differences 1,003 – – 1,003 At 31 December 2020/1 January 2021 653,983 151,446 122,532 927,961 Transfer to Stage 1 2,461 (2,416) (45) – Transfer to Stage 2 (7,311) 8,826 (1,515) – Transfer to Stage 3 (167) (5,036) 5,203 – Changes in credit risk (189,876) 164,283 277,396 251,803 New financial assets originated or purchased 98,862 8,326 2,029 109,217 Financial assets that have been derecognised (68,660) (21,431) (4,992) (95,083) Write-offs – – (127,948) (127,948) Exchange differences (1,984) – – (1,984) At 31 December 2021 487,308 303,998 272,660 1,063,966 (l) Effect of modifications on the measurement of allowance for impaired financing, advances and others The following table discloses information on financing and advances that were modified but not derecognised during the year, for which the allowance for impaired financing, advances and others were measured at a lifetime ECL at the beginning of the year, and at the end of the year had changed to a 12-months ECL: Group and Bank 2021 RM’000 2020 RM’000 Amortised cost before the modification 4,549 431 Net modification loss 5 439 BANK I SLAM MALAYS IA BERHAD NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2021 274
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