Maybank-AR2021-Financial-Statements-Book

90

NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

15. OTHER ASSETS (CONT’D.)

(i) Included in other debtors are physical gold held by the Group and the Bank as a result of its broker-dealer activities amounting to approximately
RM804,162,000 (2020: RM806,649,000).

(ii) Analysis of changes in gross carrying amount and the corresponding allowances for impairment losses on other assets are as follows:

As at 31 December 2021

Changes in the gross carrying amount of other assets that contributed to the changes in the loss allowances during the financial year ended 31 December
2021 were mainly due to lower impaired receivables.

Stage 1 Stage 2 Stage 3 Total
RM’000
12-month Lifetime ECL Lifetime ECL
ECL not credit credit 95,069
impaired (28,103)
RM’000 RM’000 impaired
RM’000 (641)
(13,119)
Group 6,635 8 88,426
At 1 January 2021 348 12 (28,463) 53,206
Net remeasurement of allowances –
Amount written off – (641)
Exchange differences (1,176) – (11,943)

At 31 December 2021 5,807 20 47,379

Bank – – 63,341 63,341
At 1 January 2021
Net remeasurement of allowances – – (45,426) (45,426)
Amount written off
Exchange differences – – (641) (641)

At 31 December 2021 – – 1,625 1,625

– – 18,899 18,899

As at 31 December 2020

Changes in the gross carrying amount of other assets that contributed to the changes in the loss allowances during the financial year ended 31 December
2020 were mainly due to higher impaired receivables.

Stage 1 Stage 2 Stage 3 Total
RM’000
12-month Lifetime ECL Lifetime ECL
ECL not credit credit 31,858
impaired 64,155
RM’000 RM’000 impaired
RM’000 (304)
(640)
Group 7,270 21 24,567
At 1 January 2020 (806) (13) 64,974 95,069
Net remeasurement of allowances
Amount written off – – (304)
Exchange differences 171 – (811)

At 31 December 2020 6,635 8 88,426

Bank – – 9,695 9,695
At 1 January 2020
Net remeasurement of allowances – – 54,688 54,688
Amount written off
Exchange differences – – (304) (304)

At 31 December 2020 – – (738) (738)

– – 63,341 63,341

MAYBANK ANNUAL REPORT 2021 91 OUR PERFORMANCE
Pg. 1-6
NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

16. INVESTMENT PROPERTIES 2021 2020 THE FINANCIALS
RM’000 RM’000 Pg. 7-267
Group
At fair value 941,545 921,471
3,312 1,370
At 1 January
Additions 30,301 18,522
Fair value adjustments (Note 41) (110) 182
Exchange differences
At 31 December 975,048 941,545

The following investment properties are held under lease terms: 2021 2020
RM’000 RM’000
Group
At fair value 139,722 137,100
Leasehold land 314,343 311,730
Buildings 454,065 448,830

The Group has no restrictions on the realisability of its investment properties and has no contractual obligations to either purchase, construct or develop
investment properties or for repairs, maintenance and enhancements.

Investment properties are stated at fair value, which have been determined by an accredited independent valuer using a variety of approaches such as
comparison method and income capitalisation approach. Details of valuation methods are disclosed in Note 55(b).

17. STATUTORY DEPOSITS WITH CENTRAL BANKS Group Bank

Bank Negara Malaysia Note 2021 2020 2021 2020
Other central banks (i) RM’000 RM’000 RM’000 RM’000
Allowances for impairment losses (ii)
185,987 352,758 185,987 340,061
(iii) 7,329,226 7,116,971 1,509,491 1,307,005

7,515,213 7,469,729 1,695,478 1,647,066
(1,084) (1,516) – –

7,514,129 7,468,213 1,695,478 1,647,066

(i) The non-interest bearing statutory deposits maintained with Bank Negara Malaysia are in compliance with the requirements of the Central Bank of
Malaysia Act 2009, the amount of which is determined as set percentages of total eligible liabilities.

(ii) The statutory deposits of the foreign branches and foreign subsidiaries are denominated in foreign currencies and maintained with the central banks of
the respective countries, in compliance with the applicable legislations in the respective countries.

92

NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

17. STATUTORY DEPOSITS WITH CENTRAL BANKS (CONT’D.)

(iii) Analysis of changes in allowances for impairment losses on statutory deposits with central banks are as follows:

Group Stage 1 Stage 2 Stage 3 Total
RM’000
As at 31 December 2021 12-month Lifetime ECL Lifetime ECL
ECL not credit credit 1,516
At 1 January 2021 impaired (462)
Net remeasurement of allowances RM’000 RM’000 impaired
Exchange differences RM’000 30
1,516 –
At 31 December 2021 (462) – – 1,084
– –
30 –

1,084 – –

Group Stage 1 Stage 2 Stage 3 Total
RM’000
As at 31 December 2020 12-month Lifetime ECL Lifetime ECL
ECL not credit credit –
At 1 January 2020 impaired 1,534
Net remeasurement of allowances RM’000 RM’000 impaired
Exchange differences RM’000 (18)
– –
At 31 December 2020 1,534 – – 1,516
– –
(18) –

1,516 – –

18. INVESTMENT IN SUBSIDIARIES 2021 2020
RM’000 RM’000
Bank
34,835,297 32,532,887
Unquoted shares, at cost 1,328,136 1,328,136
– In Malaysia
– Outside Malaysia 36,163,433 33,861,023
(2,957,660) (2,957,660)
Less: Accumulated impairment losses
33,205,773 30,903,363
The following are major events of the Group and of the Bank during the
financial year ended 31 December 2021: On 28 June 2021, the Bank subscribed to rights issue of 22,594,000
(i) Liquidation of KE Sovereign Limited new ordinary shares issued by MIB, at an issue price of RM31.28 per
ordinary share for a total consideration of RM706,740,320.
On 9 March 2021, Maybank IBG Holdings Limited (“MIBGH”), a wholly-
owned subsidiary of the Bank has completed the liquidation of KE On 28 September 2021, the Bank subscribed to rights issue of
Sovereign Limited, a wholly-owned subsidiary of the Bank. The Group 48,012,250 new ordinary shares issued by MIB, at an issue price of
recorded a loss arising from liquidation of RM7,165,000 as disclosed RM35.12 per ordinary share for a total consideration of RM1,686,190,220.
in Note 41.
(ii) Capital injection into PT Maybank Asset Management (iv) Dilution and redemption of deemed controlled structured entities
by the Bank
On 22 April 2021, 21 June 2021 and 26 November 2021, Maybank
Asset Management Sdn. Bhd. (“MAM”), an 80.0% subsidiary of the During the financial year ended 31 December 2021, the Bank had
Bank injected additional capital of IDR9.0 billion (or equivalent amount experienced dilution of interest and redeemed its investment in deemed
of RM2.63 million), IDR9.0 billion (or equivalent amount of RM2.70 controlled structured entities as follows:
million) and IDR8.5 billion (or equivalent amount of RM2.55 million)
respectively to PT Maybank Asset Management, a 79.2% subsidiary (a) The Bank’s investment in Maybank Malaysia SmallCap Fund, an
of the Bank. equity fund managed by MAM, an 80.0% subsidiary of the Bank
(iii) Subscription of rights issue of 70,606,250 new ordinary shares issued through Maybank Asset Management Group Berhad (“MAMG”),
by Maybank Islamic Berhad (“MIB”), a wholly-owned subsidiary of for an equivalent amount of RM71.68 million has been diluted
the Bank and reclassified from deemed controlled structured entity to
financial investments at FVTPL as disclosed in Note 9.

The Group and the Bank recorded gain on reclassification from
deemed controlled structured entity to financial investments at
FVTPL amounting to approximately RM8,571,000 and RM32,784,000
respectively as disclosed in Note 41.

MAYBANK ANNUAL REPORT 2021 93 OUR PERFORMANCE
Pg. 1-6
NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

18. INVESTMENT IN SUBSIDIARIES (CONT’D.) (v) Disposal of Overseas Investment Pte. Ltd. (formerly known as Etiqa THE FINANCIALS
Overseas Investment Pte. Ltd.) Pg. 7-267
The following are major events of the Group and of the Bank during the
financial year ended 31 December 2021 (cont’d.): During the previous financial year ended 31 December 2020, Maybank
Ageas Holdings Berhad (“MAHB”), a 69.05% subsidiary of the Bank
(iv) Dilution and redemption of deemed controlled structured entities has completed the disposal of Overseas Investment Pte. Ltd. (formerly
by the Bank (cont’d.) known as Etiqa Overseas Investment Pte. Ltd.), a 69.05% subsidiary
of the Bank for a sale consideration of USD1.00 (or equivalent amount
During the financial year ended 31 December 2021, the Bank had of RM4.28). The disposal was inclusive of the shareholdings in its
experienced dilution of interest and redeemed its investment in deemed associate, Pak-Kuwait Takaful Ltd. (“PKTCL”) based in Pakistan.
controlled structured entities as follows (cont’d.): Compensation of RM10.0 million was paid to the buyer in relation to
the existing liabilities in PKTCL as agreed between buyer and seller.
(b) The Bank redeemed its investment in Maybank Enhanced Income
Fund, an equity fund managed by Maybank Asset Management The Group recorded a loss on disposal of subsidiaries amounting to
Singapore Pte. Ltd. (“MAMS”), an 80.0% subsidiary of the Bank RM10,161,000 as disclosed in Note 41.
through MAMG, for an amount of RM15.71 million.
(vi) Capital injection into Etiqa Insurance Pte. Ltd.
The Bank recorded gain on redemption of the investment in
deemed controlled structured entity amounting to RM1,025,000 During the previous financial year ended 31 December 2020, MAHB,
as disclosed in Note 41. a 69.05% subsidiary of the Bank injected additional capital of SGD15.0
million (or equivalent amount of RM46.22 million) and SGD35.0 million
(c) The Bank redeemed its investment in Maybank All-Weather (or equivalent amount of RM107.23 million) respectively to Etiqa
Quantitative Fund, an equity fund managed by MAMS, an 80.0% Insurance Pte. Ltd., a 69.05% subsidiary of the Bank.
subsidiary of the Bank through MAMG, an 80.0% subsidiary of
the Bank, for an amount of RM3.13 million. (vii) Capital repayment from Maybank Private Equity Sdn. Bhd.

The Bank recorded gain on redemption of the investment in During the previous financial year ended 31 December 2020, MAMG,
deemed controlled structured entity amounting to RM1,037,000 an 80.0% subsidiary of the Bank, received capital repayment of RM10.5
as disclosed in Note 41. million from Maybank Private Equity Sdn. Bhd., an 80.0% subsidiary
of the Bank.
The following were major events of the Group and of the Bank during the
previous financial year ended 31 December 2020: (viii) Capital injection into Etiqa Life Insurance (Cambodia) Plc.

(i) Incorporation of Etiqa Digital Solutions Sdn. Bhd. (“EDS”) During the previous financial year ended 31 December 2020, EIH, a
wholly-owned subsidiary of the Bank injected additional capital of
During the previous financial year ended 31 December 2020, Etiqa USD1.0 million (or equivalent amount of RM4.07 million) to Etiqa Life
International Holdings Sdn. Bhd. (“EIH”), a wholly-owned subsidiary of Insurance (Cambodia) Plc., a wholly-owned subsidiary of the Bank.
the Bank completed the subscription of 1 ordinary share of EDS for a
consideration of RM1.00. (ix) Investment, redemption and disposal of deemed controlled structured
entities by the Bank
Subsequently, EIH injected additional capital of RM2,499,999 to EDS
via subscription of 2,499,999 ordinary shares at an issue price of During the previous financial year ended 31 December 2020, the Bank
RM1.00 each. had invested and redeemed its investment in deemed controlled
structured entities as follows:
(ii) Capital repayment from Maybank Singapore Limited (“MSL”)
(a) The Bank invested into Maybank All-Weather Quantitative Fund,
During the previous financial year ended 31 December 2020, the Bank an equity fund managed by MAMS, an 80.0% subsidiary of the
via Cekap Mentari Berhad, an intermediate holding company of MSL Bank through MAMG, an 80.0% subsidiary of the Bank, for an
received capital repayment of SGD400.0 million (or equivalent amount equivalent amount of RM12.6 million as a deemed controlled
of RM1,213.9 million) from MSL, a wholly-owned subsidiary of the structured entity.
Bank.
(b) The Bank redeemed its investment in Maybank Malaysia SmallCap
(iii) Capital injection into PT Maybank Asset Management Fund (formerly known as Maybank SmallCap Trust Fund), an
equity fund managed by MAM, an 80.0% subsidiary of the Bank
During the previous financial year ended 31 December 2020, MAM, through MAMG, for an amount of RM55.12 million.
an 80.0% subsidiary of the Bank injected additional capital of IDR24.0
billion (or equivalent amount of RM7.46 million), IDR18.0 billion (or The Bank recorded gain on redemption of the investment in
equivalent amount of RM5.38 million) and IDR9.0 billion (or equivalent deemed controlled structured entity amounting to RM17,398,000
amount of RM2.64 million) respectively to PT Maybank Asset as disclosed in Note 41.
Management, a 79.2% subsidiary of the Bank.
(c) The Bank fully redeemed its investments in Akshayam Asia Fund
(iv) Subscription of rights issue of 22,594,000 new ordinary shares issued Limited and Akshayam Asia Master Fund Limited, an equity fund
by Maybank Islamic Berhad (“MIB”), a wholly-owned subsidiary of managed by MAMS for an equivalent amount of RM152.7 million.
the Bank
The Group recorded a gain and the Bank recorded a loss amounting
During the previous financial year ended 31 December 2020, the Bank to RM3,128,000 and RM20,673,000 respectively on the disposal
subscribed to rights issue of 22,594,000 new ordinary shares issued of deemed controlled structured entities as disclosed in Note 41.
by MIB, at an issue price of RM32.40 per ordinary share for a total
consideration of RM732,045,600.

94

NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

18. INVESTMENT IN SUBSIDIARIES (CONT’D.)

Details and financial information of subsidiaries that have material non-controlling interests are as follows:
(i) Etiqa International Holdings Sdn. Bhd. (“EIH”); and
(ii) Maybank IBG Holdings Limited (“MIBGH”).
The proportion of effective equity interest held by non-controlling interests within EIH and MIBGH are disclosed in Note 65(a).
The summarised financial information of EIH and MIBGH are disclosed as follows:

EIH MIBGH

2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000

Summarised income statements: 1,488,181 1,319,080 320,108 273,515
Interest income (9,848) – (72,530) (81,756)
Interest expense 191,759

Net interest income 1,478,333 1,319,080 247,578 –
Net earned insurance premiums 8,888,525 9,600,290 – 623,626
Other operating income (784,042) 815,385
631,699 676,397
–
Total operating income 9,582,816 11,551,069 923,975 815,385
Net insurance benefits and claims incurred, net fee and commission expenses, (7,702,634) (9,610,162) – (657,948)
157,437
change in expense liabilities and taxation of life and takaful fund
(906)
Net operating income 1,880,182 1,940,907 923,975 (2,894)
Overhead expenses (1,001,833) (932,281) (631,941)
(9,509)
Operating profit before impairment losses 878,349 1,008,626 292,034 144,128
Allowances for impairment losses on loans, advances, financing and other debts, net (3,737) (6,192) (660)
Writeback of/(allowances for) impairment losses on financial investments, net 304 (1,287) (311) 10,959
Writeback of/(allowances for) impairment losses on other financial assets and 155,087
34,315 (13,736) (26,791) (40,857)
goodwill, net
114,230
Operating profit 909,231 987,411 264,272
Share of profits in associates – – 13,992 100,282
13,948
Profit before taxation and zakat 909,231 987,411 278,264
114,230
Taxation and zakat (127,654) (279,676) (57,547) 3,482

Profit for the financial year 781,577 707,735 220,717
Attributable to:
Equity holders of the Bank 603,382 530,437 199,417
Non-controlling interests 178,195 177,298 21,300

781,577 707,735 220,717

Dividends paid to non-controlling interests of the Group 77,455 77,455 12,036

Summarised statements of financial position: 54,373,337 48,263,063 13,643,305 10,718,586
Total assets (46,474,593) (40,681,672) (11,782,570) (8,959,359)
Total liabilities
7,898,744 7,581,391 1,860,735 1,759,227
Total equity

Attributable to: 5,512,198 5,228,679 1,755,056 1,653,417
Equity holders of the Bank 2,386,546 2,352,712 105,679 105,810
Non-controlling interests
7,898,744 7,581,391 1,860,735 1,759,227

Summarised cash flow statements: (559,292) 1,134,330 (588,456) (365,694)
Operating activities (37,195) (36,073) (13,268) (9,393)
Investing activities 542,046 868,454
Financing activities (259,200) 602,790
(54,441) 266,730
Net (decrease)/increase in cash and cash equivalents 839,057 227,703

Details of the subsidiaries of the Bank are disclosed in Note 65(a).

MAYBANK ANNUAL REPORT 2021 95 OUR PERFORMANCE
Pg. 1-6
NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

19. INTEREST IN ASSOCIATES AND JOINT VENTURES Group 2020 Bank 2020 THE FINANCIALS
RM’000 RM’000 Pg. 7-267
Equity interest 2021 2021
Unquoted shares, at cost RM’000 RM’000
Quoted shares, at cost
Exchange differences 701,413 774,034 440,730 440,730
Share of post-acquisition reserves 2,864,864 2,864,864 – –
Less: Accumulated impairment losses (1,870,647) (1,732,696) – –

Market value of quoted shares 1,695,630 1,906,202 440,730 440,730
1,156,811 1,135,206 – –

2,852,441 3,041,408 440,730 440,730
(361,006) (361,006) – –

2,491,435 2,680,402 440,730 440,730

807,130 1,034,201 – –

(i) The carrying amount of interest in joint ventures of the Group has been reduced to zero since 31 December 2019.

(ii) During the financial year ended 31 December 2021, An Binh Commercial Joint Stock Bank (“ABB”) completed the rights issue exercise to existing
shareholders and shares issuance to employees. The Bank did not participate in the rights issue and accordingly its percentage in ABB is reduced from
20.0% to 16.4%. The Group recorded a loss on dilution of interest in associates of RM60,158,000 as disclosed in Note 41.

(iii) The following table summarises the information of the Group’s material associates, adjusted for any differences in accounting policies and reconciles the
information to the carrying amount of the Group’s interest in associates and joint ventures:
Summarised income statements:

Group MCB Bank An Binh Other Total
2021 RM’000 Commercial individually RM’000
Joint Stock immaterial

Bank associates
RM’000 and joint
ventures

RM’000

Interest income 3,287,132 1,123,145 37,932 4,448,209
Interest expense (1,553,033) (606,552) (16,663) (2,176,248)

Net interest income 1,734,099 516,593 21,269 2,271,961
Other operating income 433,206 219,626 131,156 783,988

Net operating income 2,167,305 736,219 152,425 3,055,949
Overhead expenses (1,061,402) (293,243) (148,079) (1,502,724)

Operating profit before impairment losses 1,105,903 442,976 4,346 1,553,225
118,936 (135,632) 249 (16,447)
Writeback of/(allowances for) impairment losses on loans, advances and
financing, net

Operating profit 1,224,839 307,344 4,595 1,536,778
Share of profits in associates 23,454 – – 23,454

Profit before taxation 1,248,293 307,344 4,595 1,560,232
Taxation (514,536) (58,103) (3,664) (576,303)

Profit for the financial year 733,757 249,241 931 983,929

Group’s share of profits for the financial year 137,800 47,932 451 186,183

Dividends paid by the associates during the financial year 140,739 – 896 141,635

96

NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

19. INTEREST IN ASSOCIATES AND JOINT VENTURES (CONT’D.)

(iii) The following table summarises the information of the Group’s material associates, adjusted for any differences in accounting policies and reconciles the
information to the carrying amount of the Group’s interest in associates and joint ventures (cont’d.):
Summarised income statements (cont’d.):

Group MCB Bank An Binh Other Total
2020 RM’000 Commercial individually RM’000
Joint Stock immaterial
Interest income 3,967,258 5,204,086
Interest expense (1,930,228) Bank associates (2,738,355)
RM’000 and joint
Net interest income 2,037,030 ventures 2,465,731
Other operating income 601,194 1,202,550 979,946
(792,668) RM’000
Net operating income 2,638,224 3,445,677
Overhead expenses (1,013,622) 409,882 34,278 (1,459,594)
249,189 (15,459)
Operating profit before impairment losses 1,624,602 1,986,083
Allowances for impairment losses on loans, advances and financing, net (179,785) 659,071 18,819 (277,685)
(300,268) 129,563
Operating profit/(loss) 1,444,817 1,708,398
Share of profits in associates 17,975 358,803 148,382 17,975
(93,850) (145,704)
Profit/(loss) before taxation 1,462,792 1,726,373
Taxation (582,066) 264,953 2,678 (621,590)
– (4,050)
Profit/(loss) for the financial year 880,726 1,104,783
264,953 (1,372)
Group’s share of profits/(losses) for the financial year 165,400 (36,500) – 209,147

Dividends paid by the associates during the financial year 49,546 228,453 (1,372) 50,323
(3,024)
45,690
(4,396)
–
(1,943)

777

Summarised statements of financial position: MCB Bank An Binh Other Total
RM’000 Commercial individually RM’000
Group Joint Stock immaterial
2021
Total assets Bank associates
Total liabilities RM’000 and joint
Total equity ventures
Proportion of Group’s ownership
Goodwill RM’000
Carrying amount of the investment
2020 49,212,885 19,299,498 605,703 69,118,086
Total assets (44,701,089) (17,647,297) (398,289) (62,746,675)
Total liabilities 207,414
Total equity 4,511,796 1,652,201 6,371,411
Proportion of Group’s ownership 59,618
Goodwill 847,315 270,795 294,812 1,177,728
Carrying amount of the investment 815,942 202,953 354,430 1,313,707
1,663,257 473,748 2,491,435

45,325,797 16,095,272 807,349 62,228,418
(40,315,135) (14,490,646) (588,628) (55,394,409)
218,721
5,010,662 1,604,626 6,834,009
62,812
941,002 320,925 294,812 1,324,739
865,318 195,533 357,624 1,355,663
1,806,320 516,458 2,680,402

MAYBANK ANNUAL REPORT 2021 97 OUR PERFORMANCE
Pg. 1-6
NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

19. INTEREST IN ASSOCIATES AND JOINT VENTURES (CONT’D.) THE FINANCIALS
Pg. 7-267
(iv) Details of the associates and joint ventures of the Group and of the Bank are disclosed in Note 65(c) and Note 65(d) respectively.
(v) The details of goodwill included within the Group’s carrying amount of interest in associates and joint ventures are as follows:

Group 2021 2020
RM’000 RM’000
At 1 January
Exchange differences 1,355,663 1,405,972
(41,956) (50,309)
At 31 December
1,313,707 1,355,663

20. PROPERTY, PLANT AND EQUIPMENT

Office

Furniture, Electrical
and
Fittings, Computers
and Security
Group Equipment and Equipment Motor Work-
Peripherals Vehicles in-Progress
As at 31 December 2021 *Properties Renovations RM’000 RM’000 RM’000 Total
RM’000 RM’000
Cost RM’000 RM’000 314,016
At 1 January 2021 3,002
Additions 2,200,333 1,630,069 1,565,806 (37) 62,580 24,189 5,796,993
Disposals 5,834 30,006 124,727 (4,783) 1,365 32,820 197,754
Write-offs (Note 43) – (7,273) (21,895) 441 (2,674) (3,009) (34,888)
Transferred between categories – (29,953) (49,264) (1,233) (85,233)
Transferred from intangible – 9,253 2,013 – – – –
(10,148) (11,707)
assets (Note 22) – 383 1,100 – 1,483
Exchange differences 40,564 13,200 2,937 302,491 (946) – 37,224
(8,383)
At 31 December 2021 2,246,731 1,645,685 1,625,424 59,092 5,913,333
33,910

Accumulated depreciation 766,417 1,382,294 1,134,012 258,523 48,898 – 3,590,144
and impairment losses
45,317 80,505 151,714 15,819 6,631 – 299,986
At 1 January 2021 – (6,887) (21,825) (37) (2,522) – (31,271)
Depreciation charge for the – (29,930) (49,093) (1,158) – (84,964)
– (4,783) ––
financial year (Note 43) (176) – 176 – – 9,449
Disposals 21,828 (2,277) (4,424) (2,605) – 3,783,344
Write-offs (Note 43) (3,073) 49,244
Transferred between categories 833,562 1,423,529 1,210,384 – 3,775,836
Exchange differences 266,625 49,244 – 7,508
– – 3,783,344
At 31 December 2021
49,244
Analysed as: 826,058 1,423,525 1,210,384 266,625
Accumulated depreciation 7,504 4 – –
Accumulated impairment losses
833,562 1,423,529 1,210,384 266,625

Net carrying amount 1,413,169 222,156 415,040 35,866 9,848 33,910 2,129,989
At 31 December 2021

98

NOTES TO THE
FINANCIAL STATEMENTS

31 December 2021

20. PROPERTY, PLANT AND EQUIPMENT (CONT’D.)

Group *Properties Office Computers Electrical Motor Work- Total
RM’000 Furniture, and and Vehicles in-Progress RM’000
As at 31 December 2020 RM’000
Fittings, Peripherals Security RM’000
Cost Equipment and RM’000 Equipment
At 1 January 2020
Additions Renovations RM’000
Disposals RM’000
Write-offs (Note 43) 311,506
Transferred between categories 2,221,541 1,623,071 1,516,030 6,240 63,296 28,850 5,764,294
Transferred from/(to) intangible assets 9,693 40,466 116,496 (703) 5,211 24,695 202,801
(1,424) (3,876) (52,335) (3,897) (4,872) (4,649) (67,859)
(Note 22) – (40,904) (6,518) 599 (95) (51,414)
Exchange differences – 22,460 (113) 61 – –
500 (23,007)
At 31 December 2020 – – 2,461 (229) –
(29,477) (11,148) (10,215) (1,021) (2,281) 680
314,016 581 (51,509)
2,200,333 1,630,069 1,565,806 62,580
24,189 5,796,993

Accumulated depreciation and 746,474 1,343,048 1,048,248 244,717 46,009 – 3,428,496
impairment losses
40,117 92,670 153,431 18,473 7,293 – 311,984
At 1 January 2020 (695) (2,208) (51,619) (612) (3,752) – (58,886)
Depreciation charge for the financial year – (40,610) – (50,784)
– (6,236) (3,843) (95) ––
(Note 43) – 21 (21) – – – (90)
Disposals – (90) – – – (40,576)
Write-offs (Note 43) (19,479) – 3,590,144
Transferred between categories (10,627) (9,701) (212) (557)
Transferred to intangible assets (Note 22) 766,417 48,898 – 3,582,636
Exchange differences 1,382,294 1,134,012 258,523 – 7,508
48,898 – 3,590,144
At 31 December 2020 –
24,189 2,206,849
Analysed as: 758,913 1,382,290 1,134,012 258,523 48,898
Accumulated depreciation 7,504 4 – –
Accumulated impairment losses 13,682
766,417 1,382,294 1,134,012 258,523

Net carrying amount 1,433,916 247,775 431,794 55,493
At 31 December 2020