27 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) (a) Reconciliation of loss allowance Amounts due from subsidiaries using general 3 stage approach The loss allowance for amounts due from subsidiaries as at 31 December 2024 reconciles to the opening loss allowance balance as follows: Company Performing RM’000 Underperforming RM’000 Nonperforming RM’000 Total RM’000 Opening loss allowance as at 1 January 2023 – – 40,615 40,615 Decrease in loss allowance (net) – – (4,088) (4,088) Loss allowance as at 31 December 2023/1 January 2024 – – 36,527 36,527 Increase in loss allowance (net) – – 9,000 9,000 Closing loss allowance as at 31 December 2024 – – 45,527 45,527 The following table contains an analysis of the credit exposure of amounts due from subsidiaries for which an ECL allowance is recognised, based on individual impairment assessment: Company Performing RM’000 Underperforming RM’000 Nonperforming RM’000 Total RM’000 31 December 2024 Gross carrying amount 58,971 – 45,527 104,498 Loss allowance – – (45,527) (45,527) Carrying amount (net of loss allowance) 58,971 – – 58,971 31 December 2023 Gross carrying amount 57,842 – 36,527 94,369 Loss allowance – – (36,527) (36,527) Carrying amount (net of loss allowance) 57,842 – – 57,842 During the financial year, the significant increase in the loss allowance relates to increase in ECL on an amount due from subsidiaries as the curtailment of the subsidiary’s business in the current financial year is expected to adversely affect its ability to settle the amount due to the Company in a timely manner. Notes to the Financial Statements For the financial year ended 31 December 2024 141
RkJQdWJsaXNoZXIy NDgzMzc=