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 339 338 52. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONT’D.) FAIR VALUE MEASUREMENT (CONT’D.) Movements in Level 3 financial instruments measured at fair value The level of the fair value hierarchy of financial instruments is determined at the beginning of each reporting period. The following table shows a reconciliation of the opening and closing amounts of Level 3 financial assets which are recorded at fair value: Group and Bank Equity securities at FVTPL RM’000 Equity securities at FVOCI RM’000 2024 Balance at the beginning of the financial year 71,203 1,343 Acquisition of investments during the financial year 43,539 - Disposal/reclassification of investments during the financial year (10,000) - Revaluation gain during the financial year 52,478 78 Balance at the end of the financial year 157,220 1,421 2023 Balance at the beginning of the financial year 71,612 1,294 Revaluation (loss)/gain during the financial year (409) 49 Balance at the end of the financial year 71,203 1,343 53. OPERATIONS OF ISLAMIC BANKING The Islamic banking operations of the Bank are as follows: (a) Statements of financial position as at 31 December 2024 Note Group and Bank 2024 RM’000 2023 RM’000 Restated (Note 57) Assets Cash and bank balances (e) 449,464 342,387 Financial assets at FVTPL (f) 100,000 100,000 Financial investments at FVOCI (g)(i) 184,671 264,847 Financial investments at AC (g)(ii) 106,904 106,595 Financing and advances (h) 122,947 139,464 Balances due from clients and brokers 1,386 2,009 Other assets (i) 7,091 6,479 Property, plant and equipment 13 11 Intangible assets 1 1 Total assets 972,477 961,793 Liabilities Deposits from customers (j) 345,164 341,577 Deposits and placements of banks and other financial institutions (k) 10,000 10,000 Balances due to clients and brokers 3,842 5,489 Other liabilities (l) 385,434 392,554 Deferred tax liabilities 168 395 Provision for taxation and zakat 6,390 7,172 Total liabilities 750,998 757,187 Islamic banking capital funds Islamic banking funds 120,000 120,000 Reserves 101,479 84,606 Total Islamic banking capital funds 221,479 204,606 Total liabilities and Islamic banking capital funds 972,477 961,793 Commitments and contingencies 91,915 110,797
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