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 225 224 11. OTHER ASSETS (CONT’D.) 11.1 ECL allowance for other debtors are as follows (cont’d.): Bank ECL allowances 2023 Non-Credit Impaired RM’000 Credit- Impaired RM’000 Total RM’000 As at 1 January 404 6,400 6,804 New assets originated or purchased 1,842 4,936 6,778 Assets derecognised or repaid (excluding write-offs) - (2,911) (2,911) Transfer of stages (2,105) 2,105 - Net remeasurement of allowances - 9,268 9,268 Changes in model assumption or methodology - 4,063 4,063 As at 31 December 141 23,861 24,002 11.2 ECL allowance for amounts due from subsidiaries are as follows: Bank ECL allowances 2024 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 94 - - 94 Net remeasurement of allowances 412 - - 412 As at 31 December 506 - - 506 Bank ECL allowances 2023 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 240 - - 240 Net remeasurement of allowances (146) - - (146) As at 31 December 94 - - 94 11. OTHER ASSETS (CONT’D.) (a) Assets segregated for customers These represent margin deposits paid by a subsidiary to Bursa Malaysia Derivatives Clearing Berhad. (b) Amounts due from subsidiaries Included in the amount due from subsidiaries is a term loan of RM30.0 million to a subsidiary, Kenanga Investors Berhad. The loan is unsecured and bears interest of 1.0% (2023: 1.0%) per annum above cost of funds. The tenure for the loan is 6 years from 5 July 2019. (c) Amounts due from related companies Amounts due from all related companies comprised of payments of expenses made on behalf of these related companies and are unsecured, non-interest bearing and repayable on demand. (d) Other debtors Included in other debtors are receivables from corporate advisory billings which are non-interest bearing and generally on 30 day (2023: 30 day) terms. They are recognised at their original invoice amounts which represent their fair values on initial recognition. 12. STATUTORY DEPOSIT WITH BANK NEGARA MALAYSIA (“BNM”) The non-interest bearing statutory deposit is maintained with BNM in compliance with Section 26(2)(c) of the Central Bank of Malaysia Act 2009. The amount is determined as a set percentage of net eligible liabilities.
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