292 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 41. Financial risk management objectives and policies (continued) (b) Credit risk (continued) (ii) Other financial assets at amortised cost (continued) The following table contains an analysis of the credit risk exposure for which an ECL allowance is recognised. The gross carrying amount disclosed below also represents the Group’s and the Company’s maximum exposure to credit risk on these assets: (continued) Company 2023 Performing RM million Underperforming RM million Not performing RM million Total RM million Other receivables (excluding amounts due from subsidiaries) Gross/net carrying amount 3 - - 3 Amounts due from subsidiaries Gross carrying amount 434 14 79 527 Accumulated impairment loss - (14) (76) (90) Net carrying amount 434 - 3 437 Cash and bank balances Gross/net carrying amount 121 - - 121 2022 Other receivables (excluding amounts due from subsidiaries) Gross/net carrying amount 2 - - 2 Amounts due from subsidiaries Gross carrying amount 472 14 79 565 Accumulated impairment loss - (14) (79) (93) Net carrying amount 472 - - 472 Cash and bank balances Gross/net carrying amount 335 - - 335 The reconciliation of allowance for impairment of other receivables is disclosed in Note 24(b)(vii). As at 31 January 2023, the credit risk of the Group primarily relates to the Group’s 4 (2022: 4) largest customers which accounted for 94% (2022: 87%) of the outstanding trade receivables at the end of the reporting period. The Group believes the counterparties’ credit risk is low taking into consideration of their financial position, past collection experiences and other factors. Except for the impairment loss provided as disclosed in Note 24(a) to the financial statements, management does not expect any counterparty to fail to meet their obligations.
RkJQdWJsaXNoZXIy NDgzMzc=