Page 174 - EXIM-Bank_Annual-Report-2022

172 eXIM BANK MALAYsIA ANNUAL REPORT 2022

Notes to the fiNaNcial statemeNts

36. aLLOWaNCES/(WRITEBaCk) FOR ECL ON FINaNCIaL INVESTMENTS
Group and Bank
2022 2021
rM’000 rM’000
Financial investments at FVOCI (Note 7) 32 (1,055)
Financial investments at amortised costs (Note 8) 125,993 4,200
Total allowances for ECL on financial investments 126,025 3,145

37. ALLoWANCes For eCL oN other Assets
Group and Bank
2022 2021
rM’000 rM’000
Allowances for ECL on other assets 23 -

38. tAXAtIoN
The major components of taxation for the years ended 31 December 2022 and 2021 are:

Group Bank
2022 2021 2022 2021
rM’000 rM’000 rM’000 rM’000
Deferred tax expense (Note 13):
- Origination and reversal of temporary differences 1,364 1,631 1,364 1,631
- Benefits from previously unutilised business losses (1,364) (1,631) (1,364) (1,631)

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Income tax is calculated at the Malaysian statutory tax rate of 24% (2021: 24%) of the estimated assessable profit for the year.
A reconciliation of the taxation applicable to loss before taxation and zakat at the statutory tax rate to taxation at the effective
tax rate of the Group and the Bank is as follows:

Group Bank
2022 2021 2022 2021
rM’000 rM’000 rM’000 rM’000
(Loss)/Profit before taxation (66,477) 51,107 (66,477) 51,107
Income tax using Malaysian statutory tax rate of 24%
(2021: 24%) (15,954) 12,266 (15,954) 12,266
Non-deductible expenses 1,935 1,409 1,935 1,409
Deferred tax assets not recognised on unutilised
business losses 14,019 (13,675) 14,019 (13,675)
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