247 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 15 AMOUNTS OWING BY ASSOCIATES Group 2024 RM’000 2023 RM’000 Current Advances 3,206 3,435 Less: Allowance for impairment loss (3,083) (3,255) 123 180 Non-current Trade accounts 16,113 16,439 Less: Allowance for impairment loss (16,113) (16,439) - - Trade accounts are unsecured, interest free and recoverable within the normal credit period. The advances are unsecured, interest free and recoverable on demand. The movements in the Group’s and the Company’s allowance for impairment loss of amount owing by associates during the financial year are as follows: Group 2024 RM’000 2023 RM’000 At 1 January 19,694 28,962 Impairment loss recognised 204 - Impairment loss reversed - (10,216) Effect of exchange rate changes (702) 948 At 31 December 19,196 19,694 Amounts owing by associates are denominated in United States Dollar and Ringgit Malaysia. The Group has no significant exposure to foreign currency risk for the amounts owing by associates.
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