Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 319 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. INTANGIBLE ASSETS (CONTD.) (a) Goodwill (contd.) Key assumptions used in value-in-use calculation The discount rates applied to the cash flow projections and the forecasted growth rates used to extrapolate cash flows beyond the projection period are as follows: Projection period Years Pre-tax Terminal discount rate growth rate 2023 % 2022 % 2023 % 2022 % Asset consultancy: Opus Group 5 13.8 15.0 1.0 1.0 Healthcare support: EMS 11 13.2 9.5 * * Edgenta UEMS Group: - Malaysia 5 10.6 11.3 1.0 1.0 - Singapore 5 10.0 10.2 1.0 1.0 - Taiwan 5 12.2 13.2 1.0 1.0 Property and Facility Solutions: EGT Group 5 9.0 8.4 1.0 1.0 Infrastructure services: Edgenta PROPEL Berhad 5 10.0 9.0 1.0 1.0 Others: MEEM for Facilities Management Company 5 7.7 - 1.0 - * For EMS, the value-in-use is determined by discounting cash flows for a period of 11 years (2022: 12 years) with no terminal value. The calculation of the value-in-use for the CGUs are most sensitive to the following assumptions: (i) Budgeted gross margin The basis used to determine the value assigned to the budgeted gross margins is the average gross margins and average growth rate achieved in the years before the budgeted year, adjusted for market and economic conditions and internal resource efficiency.
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