Wah Seong Corporation Berhad Annual Report 2021 178 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 32 PROFIT/(LOSS) FROM OPERATIONS (CONTINUED) Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Profit/(loss) from operations is stated after charging: (continued) Impairment loss on: - property, plant and equipment 4,243 164,045 - - - investment properties 3,545 30 - - - trade receivables 2,327 8,254 - - - other receivables 946 17,092 - 5,614 - amount owing by joint ventures - 23,314 - - - amount owing by an associate 7,386 158 5 38 - amount owing by a subsidiary - - 232 69,208 - investment in a subsidiary - - 8,124 46,000 - investment in an associate 14,511 - - - - investment in a joint venture 3,000 - - - Allowance on slow moving and obsolete inventories 1,715 6,347 - - Loss on disposal of property, plant and equipment 36 563 - - Loss on foreign currency exchange: - realised 5,671 3,995 2,786 - - unrealised 3,934 9,005 337 - and crediting: Gain on disposal of: - property, plant and equipment 295 7,298 - - - subsidiaries (Note 37) - 19,203 - - - assets classified as held for sale 18,082 - - - Gain on foreign exchange: - realised 8,674 7,135 - 89 - unrealised 9,805 7,288 - 2,323 Interest income 3,507 4,246 910 8,884 Reversal of impairment loss on: - trade receivables 3,342 786 - - Reversal of allowance on slow moving and obsolete inventories 120 18 - - Government grants relating to income** 2,814 8,802 - - * Included in fees for non-audit services are fees payable to PricewaterhouseCoopers PLT and its local affiliates for the Group and the Company of RM650,000 (2020: RM1,088,000) and RM12,000 (2020: RM12,000) respectively. ** Government grants were introduced by the local government in various countries of which the Group operates from. This is a government subsidy granted to assist corporations who are economically impacted by the Covid-19 pandemic, with certain criteria to be met.
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