Page 110 - EXIM_AR2021

108 FINANCIAL EXIM BANK MALAYSIA
STATEMENTS

NOTES TO ThE FINANCIAL STATEMENTS

1. cOrPOrate infOrmatiOn

Export-Import Bank of Malaysia Berhad is a public limited company, incorporated and domiciled in Malaysia. The registered
office and principal place of business of the Bank is located at Level 16, EXIM Bank, Jalan Sultan Ismail, 50250 Kuala Lumpur.
The Bank is principally engaged in the business of conventional and Islamic banking in the promotion and support of export,
import, and investment for the country’s development by granting credit, issuing guarantees and providing other related
services. The Bank is also engaged in the provision of export and domestic credit insurance and takaful facilities and trade
related guarantees to Malaysian companies.
The principal activities of the subsidiaries are as stated in Note 12.
There have been no significant changes in the nature of the Group’s and Bank’s principal activities during the financial year.

The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the Directors on
30 March 2022.

2. significant accOUnting POlicies

2.1 Basis of preparation
The financial statements of the Group and the Bank have been prepared in accordance with International Financial
Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, Malaysian Financial Reporting
Standards (“MFRS”) as issued by the Malaysian Accounting Standards Board and the requirements of Companies
Act 2016.
The financial statements of the Group and the Bank have been prepared under the historical cost convention,
unless otherwise stated in the accounting policies. The financial statements are presented in Ringgit Malaysia (“RM”),
which is the Group’s and the Bank’s functional currency, and all values are rounded to the nearest thousand (RM’000)
except when otherwise indicated.

Measures announced by BNM to assist individuals, small-medium enterprises (“SMEs”) and corporates affected
by COVID-19

During the financial year ended 31 December 2021, Bank Negara Malaysia (“BNM”) had announced various COVID-19
assistance programmes which aimed to support the economy at large and provide relief to affected individuals,
SMEs and corporations. The support measures include the following:

Extension on six (“6”) months Repayment Assistance (“RA”)
The repayment assistance is applicable for financing approved before 1 July 2021. The automatic moratorium applies to
loans/financing that are not in arrears exceeding 90 days or is subject to bankruptcy/winding up proceedings at the time
the request for repayment assistance is submitted.
The moratorium should not automatically result in stage transfer under MFRS 9 Financial Instruments in the absence
of other factors relevant to the assessment. The financial impact of the moratorium is reflected at the interest/profit
income of the Group and the Bank.

Program Strategik Memperkasa Rakyat dan Ekonomi(“PEMERKASA”) and Pakej Perlindungan Rakyat dan Pemulihan
Ekonomi (“PEMULIH”)
The two measures announced by Malaysian Government were Program Strategik Memperkasa Rakyat dan
Ekonomi(“PEMERKASA”) and Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (“PEMULIH”). This is to support
individual and microenterprise borrowers, as well as Small Medium Enterprise (“SMEs”) that are affected by COVID-19.