133 AUDITED FINANCIAL STATEMENTS 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 28 CONTRACT ASSETS (CONTINUED) Reconciliation of loss allowance Contract assets amounts using simplified approach The loss allowance for contract asset as at 31 December 2021 reconciles to the opening loss allowance for that provision as follows: Non-credit Credit impaired impaired Total RM’000 RM’000 RM’000 Loss allowance as at 1 January 2020 – – – Increase in loss allowance 1,551 – 1,551 Loss allowance as at 31 December 2020 1,551 – 1,551 Increase in loss allowance 292 – 292 At 31 December 2021 1,843 – 1,843 The following table contains an analysis of the credit exposure of contract assets for which an ECL allowance is recognised, based on individual impairment assessment: Non-credit Credit impaired impaired Total Group RM’000 RM’000 RM’000 31 December 2021 Gross carrying amount 43,994 – 43,994 Loss allowance (1,843) – (1,843) Carrying amount (net of loss allowance) 42,151 – 42,151 31 December 2020 Gross carrying amount 29,431 – 29,431 Loss allowance (1,551) – (1,551) Carrying amount (net of loss allowance) 27,880 – 27,880
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