252 KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2025 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025 17. INTANGIBLE ASSETS (CONT’D.) Group Bank 2025 RM’000 2024 RM’000 2025 RM’000 2024 RM’000 (e) Trading and clearing rights for derivatives broking Carrying amount At 1 January/31 December 416 416 - - (f) Client relationships Carrying amount At 1 January 1,959 2,405 - - Amortisation (Note 34) (424) (446) - - At 31 December 1,535 1,959 - - (g) Impairment test on intangible assets Goodwill and client relationships Goodwill and client relationships have been allocated to the following CGUs: Group 2025 RM’000 2024 RM’000 Stockbroking 147,459 147,459 Investment banking 55,651 55,651 Investment management 39,452 39,876 242,562 242,986 Clients relationships - Intangible asset relating to client relationships arising from the acquisition of one of the Bank’s subsidiary operations is allocated to the unit trust and asset management (investment management) CGU. Merchant banking licence - Merchant banking licence which is allocated to the Bank’s stockbroking and investment banking CGUs represents contribution to BNM for a licence to carry on merchant banking business to transform the Bank from a Universal Broker into an Investment Bank.
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