NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 229 OUR SUSTAINABILITY APPROACH HOW WE ARE GOVERNED FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION ADDITIONAL INFORMATION 17. INTANGIBLE ASSETS (CONT’D.) Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 (e) Trading and clearing rights for derivatives broking Carrying amount At beginning/end of the financial year 416 416 - - (f) Client relationships Carrying amount At beginning of the financial year 2,834 2,932 - - Reclassified from goodwill - 250 - - Reclassified from deferred tax - 79 - - Amortisation (Note 34) (429) (427) - - At end of the financial year 2,405 2,834 - - (g) Impairment test on intangible assets Goodwill and client relationships Goodwill and client relationships have been allocated to the following CGUs: Group 2023 RM’000 2022 RM’000 Stockbroking 147,459 147,459 Investment banking 55,651 55,651 Investment management 40,322 40,751 243,432 243,861 Clients relationships - Intangible asset relating to client relationships arising from the acquisition of one of the Bank’s subsidiary operations is allocated to the unit trust and asset management (investment management) CGU. Merchant banking licence - Merchant banking licence which is allocated to the Bank’s stockbroking and investment banking CGUs represents contribution to BNM for a licence to carry on merchant banking business to transform the Bank from a Universal Broker into an Investment Bank.
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