154 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 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 Underperforming RM’000 Nonperforming RM’000 Total RM’000 31 December 2023 Gross carrying amount 57,842 - 36,527 94,369 Loss allowance - - (36,527) (36,527) Carrying amount (net of loss allowance) 57,842 - - 57,842 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 Financial year ended 31 December 2023 The significant decrease in the loss allowance for the financial year relates to decrease of ECL from amount due from subsidiaries due to settlement of the long outstanding amounts during the financial year. Financial year ended 31 December 2022 The significant increase in the loss allowance in the previous financial year relates to increase of ECL from an amount due from a subsidiary as the curtailment of the subsidiary’s business in the previous financial year was expected to impact its ability to settle the amount due to the Company on a timely manner.
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