AUDITED FINANCIAL STATEMENTS 2022 139 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 27 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) (a) Reconciliation of loss allowance (continued) Amounts due from subsidiaries using general 3 stage approach (continued) The following table contains an analysis of the credit exposure of amounts due from subsidiaries for which an ECL allowance is recognised, based on individual impairment assessment: Company Performing RM’000 Under- performing RM’000 Non- performing RM’000 Total RM’000 31 December 2022 Gross carrying amount 460,148 - 40,615 500,763 Loss allowance - - (40,615) (40,615) Carrying amount (net of loss allowance) 460,148 - - 460,148 The significant increase in the loss allowance for the financial year relates to increase of ECL from an amount due from a subsidiary as the curtailment of the subsidiary’s business during the financial year is expected to impact its ability to settle the amount due to the Company on a timely manner. Company Performing RM’000 Underperforming RM’000 Nonperforming RM’000 Total RM’000 31 December 2021 Gross carrying amount 344,352 - 11,505 355,857 Loss allowance - - (11,505) (11,505) Carrying amount (net of loss allowance) 344,352 - - 344,352
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