WASCO BERHAD 246 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 14 AMOUNTS OWING BY/(TO) SUBSIDIARIES (CONTINUED) (a) Amounts owing by subsidiaries (continued) The movements in the Company’s allowance for impairment loss of amount owing by subsidiaries during the financial year are as follows: Company 2024 RM’000 2023 RM’000 At 1 January 350 2,792 Impairment loss recognised 4 27 Impairment loss reversed - (2,469) At 31 December 354 350 During the financial year ended 31 December 2024, the amounts owing by subsidiaries are considered performing except for certain interest bearing loans and interest free advances owing by subsidiaries are deemed not performing. Accordingly, impairment loss of RM4,000 (2023: RM27,000) was recognised during the financial year. (b) Amounts owing to subsidiaries Company 2024 RM’000 2023 RM’000 Interest bearing loans (unsecured) 65,600 32,888 Non-trade accounts 820 2,545 66,420 35,433 The effective interest rate of interest bearing loans as at 31 December 2024 ranges between 2.80% to 3.11% (2023: 3.11% to 3.36%) per annum. The loans are denominated in Ringgit Malaysia and are repayable on demand. Non-trade accounts are denominated in Ringgit Malaysia, unsecured, interest free and repayable on demand.
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