Page 157 - Exim iar24_Ebook

EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 155
NOTES TO THE FINANCIAL STATEMENTS

14. INVESTMENT IN SUBSIDIARIES

Bank
2024 2023
RM’000 RM’000
Unquoted shares - at cost 73,419 73,419
Less: Allowance for impairment (9,290) (9,290)
64,129 64,129

The subsidiaries are as follows:

Country of Effective ownership
incorporation/ interest (%)
Principal principal place of
Name of company activities place of 2024 2023
Malaysia Export Credit Insurance Berhad Dormant Malaysia 100 100

EXIM Sukuk Malaysia Berhad Special Purpose Malaysia 100 100
Vehicle for
Sukuk issuance

Malaysia Export Credit Insurance Berhad, a wholly owned subsidiary of the Bank was formerly engaged in the provision of
export and domestic credit insurance facilities and guarantees. The Company is currently dormant.

15. INVESTMENT PROPERTIES

Group and Bank
2024 2023
RM’000 RM’000

Cost
At 1 January/31 December 1,300 1,300
Accumulated depreciation

At 1 January 522 504
Charged for the year (Note 30) 18 18
At 31 December 540 522

Carrying amount 760 778

Group and Bank
2024 2023
RM’000 RM’000
Included in the carrying amount of investment properties are:

Freehold land 400 400
Buildings 360 378
760 778

Fair value of investment properties 1,300 1,140