NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 227 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 17. INTANGIBLE ASSETS Note Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Total intangible assets With indefinite useful life Goodwill (a) 241,027 241,027 252,909 252,909 Merchant banking licence (b) 52,500 52,500 52,500 52,500 Fund management contracts (c) 4,169 4,169 - - Trading and clearing rights for derivatives broking (e) 416 416 - - With definite useful life Computer software and work-in-progress (d) 33,092 28,273 30,511 25,723 Client relationships (f) 2,405 2,834 - - 333,609 329,219 335,920 331,132 (a) Goodwill Cost At beginning of the financial year 276,794 277,044 288,676 288,676 Reclassified to client relationships - (250) - - At end of the financial year 276,794 276,794 288,676 288,676 Accumulated impairment loss At beginning/end of the financial year 35,767 35,767 35,767 35,767 Net carrying amount 241,027 241,027 252,909 252,909 (b) Merchant banking licence Carrying amount At beginning/end of the financial year 52,500 52,500 52,500 52,500 (c) Fund management contracts Carrying amount At beginning/end of the financial year 4,169 4,169 - -
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