KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED SHAREHOLDERS’ INFORMATION NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 FINANCIAL STATEMENTS ADDITIONAL INFORMATION OUR VALUE CREATION APPROACH 207 206 7. FINANCIAL INVESTMENTS OTHER THAN THOSE MEASURED AT FVTPL (CONT’D.) (b) Financial instruments at amortised cost (cont’d.): An analysis of changes in the gross carrying amount and the corresponding ECLs is as follows (cont’d.): Group and Bank ECL allowances 2023 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January/31 December - - - - Included in financial investments measured at amortised cost are financial assets sold under repurchase agreements as follows: Group and Bank 2024 RM’000 2023 RM’000 Malaysian Government Securities (Note 25) - 97,232 Malaysian Government Investment Certificates (Note 25) 69,514 - 69,514 97,232 8. DERIVATIVE FINANCIAL ASSETS Group and Bank 2024 RM’000 2023 RM’000 At fair value Dual currency investment - Options 23 5 Foreign exchange related contracts 203 - Equity related contracts - Options 2,761 26,415 Equity related contracts - Swap 898 209 Equity related contracts - Forward 45,812 49,309 49,697 75,938 8. DERIVATIVE FINANCIAL ASSETS (CONT’D.) Group and Bank 2024 RM’000 2023 RM’000 Contract/Notional amount Dual currency investment - Options 16,410 3,074 Foreign exchange related contracts 31,688 - Equity related contracts - Options - 25,985 Equity related contracts - Swap 26,974 19,439 Equity related contracts - Forward 79,445 51,342 154,517 99,840 The contractual or underlying notional amounts of derivative financial assets held at fair value through profit or loss reflect the value of transactions outstanding as at reporting date, and do not represent amounts at risk. 9. LOANS, ADVANCES AND FINANCING Group Bank 2024 RM’000 2023 RM’000 Restated (Note 57) 2024 RM’000 2023 RM’000 Restated (Note 57) At amortised cost Term loans/financing 651,153 561,143 664,182 574,172 Share margin financing 1,148,571 1,134,235 1,148,571 1,134,235 Other lending and factoring receivables 31,373 12,200 - - Subordinated term loan* - - 45,140 25,038 Gross loans, advances and financing 1,831,097 1,707,578 1,857,893 1,733,445 Less: Allowance for ECL - Stage 1 - 12-month ECL (803) (537) (1,720) (680) - Stage 2 - Lifetime ECL non-credit impaired (750) (2,741) (750) (2,741) - Stage 3 - Lifetime ECL credit impaired (5,692) (3,296) (5,692) (3,296) Net loans, advances and financing 1,823,852 1,701,004 1,849,731 1,726,728 * Subordinated term loan to a subsidiary The subordinated loan granted to a subsidiary, Kenanga Futures Sdn Bhd, is unsecured with effective interest rate of 6.30% per annum (2023: 6.02%) and is repayable by March 2027.
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