22. INTANGIBLE ASSETS (CONT’D.) In the previous financial year, an impairment loss of RM2,353,000 has been recognised in the profit or loss of the Group subsequent to the goodwill assessement exercise. (a) Key assumptions used in value-in-use calculations The recoverable amounts of the CGUs have been determined based on value-in-use calculations using cash flow projections based on financial budgets approved by management. The following describes each key assumption on which management has based its cash flow projections to undertake impairment testing of goodwill. (i) Budgeted gross margin The basis used to determine the value assigned to the budgeted gross margin is the average rate achieved in the financial year immediately before the budgeted year increased for expected efficiency improvements. (ii) Pre-tax discount rate The discount rates used are pre-tax ranging from 7% to 8% (2021: 7% to 8%) and reflect specific risks relating to the relevant segments. (b) Sensitivity to changes in assumptions W ith regard to the assessment of value-in-use of the CGUs, management believes that no reasonable possible change in any of the above key assumptions would cause the carrying amounts of the unit to materially differ from its recoverable amount. 23. TRADE AND OTHER RECEIVABLES Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Non-current Other receivables Security retainers accumulation fund (Note 23(b)(i)) 5,436 5,223 – – Amount due from a subsidiary (Note 23(b)(ii)) – – 855,889 1,500,389 5,436 5,223 855,889 1,500,389 Current Trade receivables Third parties 204,095 281,798 – – Amounts due from subsidiaries – – 26,168 20,039 Less: Accumulated impairment losses (7,075) (13,877) – – Trade receivables, net 197,020 267,921 26,168 20,039 239 FINANCIAL STATEMENTS & OTHER INFORMATION
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