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 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 2021/1 January 2022 487,308 303,998 272,660 1,063,966 Transfer to Stage 1 1,336 (1,194) (142) – Transfer to Stage 2 (12,582) 13,174 (592) – Transfer to Stage 3 (1,753) (16,769) 18,522 – Changes in credit risk (149,026) (56,960) 443,813 237,827 New financial assets originated or purchased 87,852 8,033 1,572 97,457 Financial assets that have been derecognised (42,124) (25,885) (34,797) (102,806) Write–offs – – (251,621) (251,621) Exchange differences (4,960) – – (4,960) At 31 December 2022 366,051 224,397 449,415 1,039,863 (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 2022 RM’000 2021 RM’000 Amortised cost before the modification 3,400 4,549 Net modification loss 133 5 Financial Statements 289 01 05 03 07 02 06 09 04 08 Bank Islam Malaysia Berhad
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