27 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) (a) Reconciliation of loss allowance (continued) Trade amounts due from ultimate holding company, joint ventures and other related companies using simplified approach The loss allowance for trade amounts due from ultimate holding company and other related companies as at 31 December 2024 reconciles to the opening loss allowance balance as follows: Company Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 Opening loss allowance as at 1 January 2023 13,825 6,126 19,951 Decrease in loss allowance (net) (8,523) (3,115) (11,638) Loss allowance as at 31 December 2023/1 January 2024 5,302 3,011 8,313 Increase/(decrease) in loss allowance (net) 7,306 (1,273) 6,033 Closing loss allowance as at 31 December 2024 12,608 1,738 14,346 The following table contains an analysis of the credit exposure trade amounts due from ultimate holding company, joint ventures and other related companies for which an ECL allowance is recognised, based on individual impairment assessment: Group Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 31 December 2024 Gross carrying amount 407,906 6,559 414,465 Individual assessment (12,608) (1,738) (14,346) Carrying amount (net of loss allowance) 395,298 4,821 400,119 31 December 2023 Gross carrying amount 224,078 13,516 237,594 Individual assessment (5,302) (3,011) (8,313) Closing loss allowance as at 31 December 2024 218,776 10,505 229,281 During the financial year, the increase in the loss allowance relates to increase in ECL on amounts due from other related companies due to long outstanding amounts balances. FGV Holdings Berhad | Audited Financial Statements 2024 Notes to the Financial Statements For the financial year ended 31 December 2024 142
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