282 WASCO BERHAD SECTION 6 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 16 AMOUNTS OWING BY/(TO) JOINT VENTURES (a) Amounts owing by joint ventures Group 2025 RM’000 2024 RM’000 Current Advances - 142 Non-current Trade accounts 2,980 2,399 Interest bearing loans 39,943 41,620 Advances 6,229 14,236 49,152 58,255 Less: Allowance for impairment loss (41,574) (45,845) 7,578 12,410 During the financial year ended 31 December 2025, the amounts owing by joint ventures are considered performing except for certain interest bearing loans owing by a joint venture are deemed not performing. Accordingly, RM4,095,000 (2024: RM12,441,000) was impaired during the financial year. Trade accounts are unsecured and interest free. The Group’s effective interest rate of interest bearing loans as at 31 December 2025 is between 3.26% to 3.75% (2024: 3.26% to 3.75%) per annum. The loans and advances are unsecured and recoverable on demand. The movements in the allowance for impairment loss on the Group’s amounts owing by joint ventures during the financial year are as follows: Group 2025 RM’000 2024 RM’000 At 1 January 45,845 36,508 Impairment loss recognised 4,095 12,441 Impairment loss reversed (7,070) - Effect of exchange rate changes (1,296) (3,104) At 31 December 41,574 45,845 The Group has no significant exposure to foreign currency risk for the amounts owing by joint ventures except for an amount of RM7,578,000 (2024: RM12,551,000) denominated in United States Dollar.
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