Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 11 INVESTMENT IN JOINT VENTURES (CONTINUED) Sensitivity As at 31 December 2023, an increase of 1% of pre-tax discount rate and 5% average vessel utilisation rate will not result in a material effect on the Group’s impairment charges. Impairment of investment in joint ventures The movements for allowance for impairment loss on investment in joint ventures during the financial year are as follows: Group 2023 2022 RM’000 RM’000 At 1 January 21,658 12,139 Impairment loss recognised - 8,989 Effect of exchange rate changes 394 530 At 31 December 22,052 21,658 Integrated Annual Report 2023 226
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