Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 15 AMOUNTS OWING BY/(TO) SUBSIDIARIES (CONTINUED) (a) Amounts owing by subsidiaries (continued) The movements in the Company’s allowance for impairment loss of amount owing by subsidiaries during the financial year are as follows: Company 2023 2022 RM’000 RM’000 At 1 January 2,792 232 Impairment loss reversed (2,469) - Impairment loss recognised 27 2,560 At 31 December 350 2,792 During the financial year ended 31 December 2023, the amounts owing by subsidiaries are considered performing except for certain interest bearing loans and interest free advances owing by subsidiaries of RM27,000 (2022: RM2,560,000) which are deemed not performing. Hence, RM27,000 (2022: RM2,560,000) was impaired during the financial year. (b) Amounts owing to subsidiaries Company 2023 2022 RM’000 RM’000 Interest bearing loans (unsecured) 32,888 22,400 Non-trade accounts 2,545 10 35,433 22,410 The effective interest rate of interest bearing loans as at 31 December 2023 ranges between 3.11% to 3.36% (2022: 2.11% to 4.55%) per annum. The loans are denominated in Ringgit Malaysia and are repayable on demand. Non-trade accounts are denominated in Ringgit Malaysia, unsecured, interest free and repayable on demand. Integrated Annual Report 2023 238
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