Page 160 - EXIM_AR2021

158 FINANCIAL EXIM BANK MALAYSIA
STATEMENTS

Notes to the fiNaNcial statemeNts

19. Other Payables anD accrUals

Group Bank
2021 2020 2021 2020
RM’000 RM’000 RM’000 RM’000

Sinking fund and debt services reserve accounts 64,253 86,116 64,253 86,116
Interest payable 39,586 50,720 39,586 50,720
Amount due to the Government of Malaysia for
MKFF scheme - 2,264 - 2,264
Amount due to Teraju* 53,214 52,712 53,214 52,712
RCCPS dividend payables 59,241 42,877 59,241 42,877
Others 46,589 50,830 46,606 50,844
262,883 285,519 262,900 285,533

* This fund represents advances received from Teraju as collateral for loan to be disbursed to Bumiputera Exporters.
Withdrawal of the fund is upon the borrower turning impaired up to a maximum of RM5,000,000 per borrower.

20. PrOvisiOn fOr cOmmitments anD cOntingencies

Group and Bank
2021 2020
RM’000 RM’000

Provision for commitments and contingencies 64,876 83,605

Movements in the provisions for commitments and contingencies are as follows:
Stage 2 Stage 3
Stage 1 Lifetime ECL Lifetime
12-months not credit ECL credit
ECL impaired impaired Total ECL
RM’000 RM’000 RM’000 RM’000

At 1 January 2020 31,170 5,948 44,235 81,353
Changes due to changes in credit risk (Note 33) (6,889) 8,675 407 2,193
Allowance/(written back) during the year (Note 33) (349) 9,192 (8,203) 640
Exchange differences - - (581) (581)

At 31 December 2020/1 January 2021 23,932 23,815 35,858 83,605
Transferred to Stage 2 (Note 33) (141) 141 - -
Transferred to Stage 3 (Note 33) - (436) 436 -
Financial assets derecognised (12,677) (1,080) - (13,757)
Changes due to changes in credit risk (Note 33) 9,801 (4,545) - 5,256
Modification to contractual cash flows of
financial assets (Note 33) (4) (205) - (209)
(Written back)/allowance during the year (Note 33) (3,484) 1,548 (9,108) (11,044)
Exchange differences - - 1,025 1,025
At 31 December 2021 17,427 19,238 28,211 64,876