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 351 350 53. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (n) Income derived from investment of shareholders’ funds Group and Bank 2024 RM’000 2023 RM’000 Finance income and hibah Financing and advances 7,606 6,200 Financial investments other than those measured at FVTPL 1,726 - Accretion of premium (158) - 9,174 6,200 (o) Profit distributed to depositors Group and Bank 2024 RM’000 2023 RM’000 Deposits from customers and financial institutions - Murabahah Fund 13,102 14,628 Others 4,058 4,084 17,160 18,712 (p) Other operating expenses Group and Bank 2024 RM’000 2023 RM’000 (i) Personnel expenses - salaries, wages, allowances and bonus 586 652 - EPF 95 102 - other staff related expenses 87 83 768 837 (ii) Other overhead expenses Establishment costs - depreciation 6 3 - amortisation - 1 - office rental 59 59 - others 32 26 97 89 Marketing and trading expenses - advertisement and promotions 6 1 - travelling and entertainment expenses 2 1 8 2 Administration and general expenses - Fees and brokerage 690 620 - Support service charges 1,482 2,052 - Shariah committee expenses 225 228 - Others 394 150 2,791 3,050 Total other overhead expenses 2,896 3,141 53. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (q) Recognition and measurement by main class of Shariah contracts The recognition and measurement of each main class of Shariah contracts is dependent on the nature of the products, either financing or deposit product. The accounting policies for each of these products are disclosed in their respective policies. (r) Shariah Committees’ remuneration Remuneration in aggregate for Shariah Committees for the financial year is as follows: Group and Bank Remuneration received Fees Other emolument Total Committees members: 31 December 2024 Dr. Ghazali Jaapar 78,000 7,200 85,200 Dr. Mohammad Firdaus Mohammad Hatta 54,000 6,000 60,000 Dr. Fadillah Mansor 48,000 5,500 53,500 180,000 18,700 198,700 31 December 2023 Dr. Ghazali Jaapar 78,000 6,600 84,600 Dr. Mohammad Firdaus Mohammad Hatta 54,000 5,500 59,500 Dr. Fadillah Mansor 48,000 5,500 53,500 180,000 17,600 197,600 (s) Capital adequacy Group and Bank 2024 RM’000 2023 RM’000 CET 1/Tier 1 capital Islamic banking funds 120,000 120,000 Retained profits 94,126 75,515 Reserves 7,353 9,091 Less: Intangible assets (1) (1) 55% of cumulative gains on financial investments at FVOCI (291) (652) Regulatory reserve (1,573) (2,654) Total CET 1/Tier 1 capital 219,614 201,299 Tier 2 capital General provision 1,860 2,956 Total Tier 2 capital 1,860 2,956 Total capital 221,474 204,255
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