NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 190 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 7. FINANCIAL INVESTMENTS OTHER THAN THOSE MEASURED AT FVTPL (CONT’D.) (a) Financial instruments at FVOCI (cont’d.): Impairment losses on financial instruments subject to impairment assessment (cont’d.) Debt instruments at FVOCI (cont’d.) An analysis of changes in the fair value and the corresponding ECLs is as follows: Group and Bank 2023 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 312,901 4,978 - 317,879 New assets originated or purchased 1,121,317 - - 1,121,317 Assets derecognised or matured (excluding write-offs) (568,974) (4,896) - (573,870) Change in fair value 10,695 (82) - 10,613 As at 31 December 875,939 - - 875,939 Group and Bank 2022 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 736,114 - - 736,114 New assets originated or purchased 816,955 - - 816,955 Assets derecognised or matured (excluding write-offs) (1,206,250) - - (1,206,250) Change in fair value (29,135) 195 - (28,940) Transfer of stages (4,783) 4,783 - - As at 31 December 312,901 4,978 - 317,879
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