33 CONTRACT ASSETS (CONTINUED) Reconciliation of loss allowance Contract assets amounts using simplified approach. The loss allowance for contract asset as at 31 December 2024 reconciles to the opening loss allowance for that provision as follows: Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 Loss allowance as at 1 January 2023 1,982 – 1,982 Decrease in loss allowance (521) – (521) Loss allowance as at 31 December 2023 1,461 – 1,461 Decrease in loss allowance (481) – (481) At 31 December 2024 980 – 980 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: Group Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 31 December 2024 Gross carrying amount 16,252 – 16,252 Loss allowance (980) – (980) Carrying amount (net of loss allowance) 15,272 – 15,272 31 December 2023 Gross carrying amount 27,600 – 27,600 Loss allowance (1,461) – (1,461) Carrying amount (net of loss allowance) 26,139 – 26,139 Notes to the Financial Statements For the financial year ended 31 December 2024 151
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