FGV Audited Financial Statements 2020

29 AMOUNTS DUE FROM/(TO) ULTIMATE HOLDING COMPANY, SUBSIDIARIES, JOINT VENTURES, AN ASSOCIATE AND OTHER RELATED COMPANIES (CONTINUED) (a) Reconciliation of loss allowance (continued) Trade amounts due from ultimate holding company and other related companies using simplified approach The loss allowance for trade amounts due from ultimate holding company and other related companies as at 31 December 2020 reconciles to the opening loss allowance balance as follows: Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 Group Opening loss allowance as at 1 January 2019 78,861 12,221 91,082 (Decrease)/increase in loss allowance (net) (68,790) 10,490 (58,300) Loss allowance as at 31 December 2019/1 January 2020 10,071 22,711 32,782 Decrease in loss allowance (net) (4,273) (9,092) (13,365) Closing loss allowance as at 31 December 2020 5,798 13,619 19,417 The following table contains an analysis of the credit exposure trade amounts due from ultimate holding company and other related companies for which an ECL allowance is recognised, based on individual impairment assessment: Non-credit impaired RM’000 Credit impaired RM’000 Total RM’000 Group 31 December 2020 Gross carrying amount 143,404 41,476 184,880 Individual assessment (5,798) (13,619) (19,417) Carrying amount (net of loss allowance) 137,606 27,857 165,463 31 December 2019 Gross carrying amount 331,797 60,483 392,280 Individual assessment (10,071) (22,711) (32,782) Carrying amount (net of loss allowance) 321,726 37,772 359,498 The decrease in the loss allowance for the financial year relates to decrease of ECL from amounts due from ultimate holding company and other related companies due to settlement of the long outstanding amounts during the financial year. 149 Notes to the Financial Statements For The Financial Year Ended 31 December 2020 Audited Financial Statements 2020