FGV Audited Financial Statements 2019

176 FGV HOLDINGS BERHAD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 35 LOANS DUE FROM SUBSIDIARIES Company 2019 RM’000 2018 RM’000 At 1 January 6,999 3,664 Additions 305,249 249,464 Repayment (248,586) (246,129) Provision for impairment (1,062) - At 31 December 62,600 6,999 The loans are denominated as follows: - Ringgit Malaysia 62,600 5,937 - Great Britain Pound - 1,062 62,600 6,999 Financing terms of short term loans due from subsidiaries are between 30 to 365 days (2018: 30 to 365 days) with interest ranging from 0.43% to 3.60% (2018: 0.38% to 3.64% per annum). (a) Reconciliation of loss allowance Loans due from subsidiaries using general 3 stage approach The loss allowance for loan due from subsidiaries as at 31 December 2019 reconciles to the opening loss allowance for that provision as follows: Performing RM’000 Under- performing RM’000 Non- performing RM’000 Total RM’000 At 1 January 2019 62,600 - 1,062 63,662 Increase in loss allowance - - (1,062) (1,062) Closing loss allowance as at 31 December 2019 62,600 - - 62,600