Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 16 AMOUNTS OWING BY ASSOCIATES Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Current Advances 3,435 3,409 - - Less: Allowance for impairment loss (3,255) (3,285) - - 180 124 - - Non-current Trade accounts 16,439 25,677 - - Less: Allowance for impairment loss (16,439) (25,677) - - - - - - Trade accounts are unsecured, interest free and recoverable within the normal credit period. The advances are unsecured, interest free and recoverable on demand. The movements in the Group’s and the Company’s allowance for impairment loss of amount owing by associates during the financial year are as follows: Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 At 1 January 28,962 7,546 - 43 Impairment loss recognised - 21,378 - - Impairment loss reversed (10,216) (108) - (43) Effect of exchange rate changes 948 146 - - At 31 December 19,694 28,962 - - Amounts owing by associates are denominated in United States Dollar and Ringgit Malaysia. The Group has no significant exposure to foreign currency risk for the amounts owing by associates. 239 Wasco Berhad
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