138 FGV HOLDINGS BERHAD 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) Financial year ended 31 December 2021 (i) On 5 January 2021, the Company subscribed for 277,750 ordinary shares of USD1.00 each from FGVI, a wholly-owned subsidiary of the Company, satisfied via a conversion of an amount due from FGVI of USD277,750, equivalent to RM1,114,000. (ii) On 6 April 2021, the Company subscribed for 74,993 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD74,993, equivalent to RM310,000. (iii) On 29 June 2021, the Company subscribed for 135,144 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD135,144, equivalent to RM561,000. (iv) On 13 September 2021, the Company subscribed for 297,193 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD297,193, equivalent to RM1,245,000. (v) On 1 November 2021, the Company subscribed for 1,687,613 ordinary shares of RM1.00 each from FGVIF, satisfied via a conversion of an amount due from FGVIF of RM1,687,613. (vi) On 7 December 2021, the Company subscribed for 70,826 ordinary shares of USD1.00 each from FGVI, satisfied via a conversion of an amount due from FGVI of USD70,826, equivalent to RM299,000. (a) Reconciliation of loss allowance Amounts due from subsidiaries using general 3 stage approach The loss allowance for amounts due from subsidiaries as at 31 December 2022 reconciles to the opening loss allowance balance as follows: Company Performing RM’000 Underperforming RM’000 Non- performing RM’000 Total RM’000 Opening loss allowance as at 1 January 2021 - - 11,621 11,621 Decrease in loss allowance (net) - - (96) (96) Write-off - - (20) (20) Loss allowance as at 31 December 2021/ 1 January 2022 - - 11,505 11,505 Increase in loss allowance (net) - - 29,110 29,110 Closing loss allowance as at 31 December 2022 - - 40,615 40,615
RkJQdWJsaXNoZXIy NDgzMzc=