NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2022 (cont’d) 7. Development costS (CONT’D) The amortisation charges are recognised in statements of profit or loss and other comprehensive income under the “Other Expenses” line item. Additional development costs with finite useful lives are amortised over a period of 2 to 5 years. Certain development costs are not amortised as these assets are not available for use and are still under development as at the financial year end. (a) Impairment testing for cash-generating units (“CGU”) The recoverable amounts of the CGU has been determined based on the value in use calculations using cash flow projections from financial budget approved by management covering a five years period. 8. Investment in subsidiaries Company 2022 2021 RM’000 RM’000 In Malaysia At cost Unquoted shares 20,395 20,395 The details of the subsidiaries are as follows: Name of Company Place of business /Country of incorporation Effective interest % Principal Activities 2022 2021 Subsidiaries of the Company Gale Vector Sdn. Bhd. (“GVSB”) Malaysia 100 100 Provision of software solutions and maintenance services. MY E.G. Sdn. Bhd. (“EGSB”) Malaysia 100 100 Development and implementation of the Electronic Government services project and provision of other related services. MY E.G. Commerce Sdn. Bhd. (“MECSB”) Malaysia 100 100 Provision of auto insurance intermediary services and other related ancillary services. MY E.G Capital Sdn. Bhd. (“MYEGC”) Malaysia 100 100 Investment holding. 192
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