245 INTEGRATED ANNUAL REPORT 2024 Key Messages Financial Statements Other Information NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 Overview of Wasco Berhad Value Creation Commitment to Governance Sustainability Journey 13 TRADE AND OTHER RECEIVABLES (CONTINUED) The movements in the Group’s and the Company’s allowance for impairment loss of other receivables during the financial year are as follows: Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2024 RM’000 At 1 January 14,852 49,543 15 13,262 Impairment loss recognised 14,171 16 - - Bad debts written off - (35,687) - (13,247) Transfer to assets of disposal group classified as held for sale 16 (16) - - Effect of exchange rate changes (612) 996 - - At 31 December 28,427 14,852 15 15 14 AMOUNTS OWING BY/(TO) SUBSIDIARIES (a) Amounts owing by subsidiaries Company 2024 RM’000 2023 RM’000 Interest bearing loans (unsecured) 53,205 14,250 Interest free advances (unsecured) 4,447 2,221 57,652 16,471 Less: Allowance for impairment loss (354) (350) 57,298 16,121 The effective interest rate of interest bearing loans as at 31 December 2024 ranges between 4.00% to 6.40% (2023: 6.15% to 6.40%) per annum. The loans and advances are denominated in Ringgit Malaysia and are recoverable on demand.
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