Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 31 MATERIAL PROFIT OR LOSS ITEMS (CONTINUED) Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 (Represented) and crediting: Gain on disposal of: - property, plant and equipment 539 156 56 - - assets classified as held for sale 23,095 5,150 - - Gain on foreign exchange: - realised 5,603 7,292 175 - - unrealised 9,176 15,754 - - Interest income 4,018 3,312 1,323 949 Reversal of impairment loss on: - trade receivables 7,778 1,497 - - - amounts owing by associates 10,216 108 - 43 - amounts owing by subsidiaries - - 2,469 - Reversal of allowance on slow moving and obsolete inventories 1,408 310 - - Government grants relating to income** - 697 - - ** 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. 32 FINANCE COSTS Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 (Represented) Interest expense on: - loans and borrowings 47,106 30,146 3,812 4,097 - lease liabilities 11,631 11,629 - - - discounting factor on long term deposits - 1,520 - - 58,737 43,295 3,812 4,097 257 Wasco Berhad
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