NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 238 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 24. OTHER LIABILITIES Note Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Interest/income payable 28,775 16,041 29,226 16,074 Retention for contra losses 17 16 17 16 Structured products 3,474 2,879 3,474 2,879 Accruals and provisions (i) 190,739 184,440 65,028 60,859 Amount held in trust on behalf of: - Dealer’s representatives 89,022 88,115 89,022 88,115 Securities borrowing and lending 8,722 11,635 8,722 11,635 Deposits and other creditors 72,387 63,226 66,548 69,109 Amount due to trustees 37,329 906 - - Amount due to subsidiaries - - 9 40 430,465 367,258 262,046 248,727 (i) The movements of provisions included in accruals and provisions are as follows: Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 As at 1 January 33,698 59,954 11,838 42,533 Provisions made, net 37,463 29,572 19,680 8,805 Utilisations (30,704) (55,828) (13,952) (39,500) As at 31 December 40,457 33,698 17,566 11,838 The nature of the provisions made above are for provision for annual leave, bonus, commitments and contingencies and directors’ fee. 25. OBLIGATIONS ON SECURITIES SOLD UNDER REPURCHASE AGREEMENTS Group and Bank 2023 RM’000 2022 RM’000 Financial investments at AC 97,232 -
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