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 251 250 24. OTHER LIABILITIES (CONT’D.) (ii) The movements in allowances for impairment losses on loan commitments are as follows (cont’d.): Group ECL allowances 2023 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January - - - - New exposures 160 - - 160 Net remeasurement of allowances (67) - - (67) Changes in model assumption or methodology (51) - - (51) As at 31 December 42 - - 42 Bank ECL allowances 2024 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 81 - - 81 Exposures derecognised or repaid (excluding write-offs) (64) - - (64) Net remeasurement of allowances (4) - - (4) As at 31 December 13 - - 13 Bank ECL allowances 2023 Stage 1 RM’000 Stage 2 RM’000 Stage 3 RM’000 Total RM’000 As at 1 January 66 - - 66 New exposures 230 - - 230 Net remeasurement of allowances (113) - - (113) Changes in model assumption or methodology (102) - - (102) As at 31 December 81 - - 81 25. OBLIGATIONS ON SECURITIES SOLD UNDER REPURCHASE AGREEMENTS Group and Bank 2024 RM’000 2023 RM’000 Financial investments at amortised cost 69,514 97,232 26. BORROWINGS Note Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Unsecured: Revolving bank loans (a) 9,000 - - - Subordinated notes (b) 180,500 180,500 180,500 180,500 189,500 180,500 180,500 180,500 (a) For financial year ended 2024, the revolving bank loans bore interest of 1.60% to 2.00% p.a. over cost of funds plus cost of maintaining statutory reserve and liquidity requirements. The loans were payable on maturity and the maximum tenure was three (3) months. (b) On 27 March 2017, the Bank established a RM250.0 million Tier 2 Subordinated Note Programme in nominal value which has a tenure of up to thirty (30) years. The outstanding Subordinated Notes under this programme as at 31 December 2024 are as follows: Issue date Tranches RM’000 Rate (p.a.) Tenure 20 March 2020 4 50,000 5.25% 10 years (non-callable 5 years) 28 August 2020 5 47,000 4.40% 28 May 2021 6 63,500 4.48% 10 February 2023 7 20,000 5.60% 180,500 27. LEASE LIABILITIES Group Bank 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 As at 1 January 24,750 25,324 20,594 20,757 Additions 9,091 9,899 4,484 8,376 Accretion of interest 1,344 475 1,011 879 Payments (9,112) (9,021) (7,344) (7,491) Derecognition (2,799) (1,927) (1,584) (1,927) As at 31 December 23,274 24,750 17,161 20,594
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