Page 178 - EXIM-Bank_Annual-Report-2023

EXIM BANk MALAySIA
176 A Vision to Serve Empowering Growth Management Discussion and Analysis
ANNUAL REPORT 2023
Notes to the fiNaNcial statemeNts

35. (WRITEBACk)/ALLOWANCES FOR ECL ON FINANCIAL INVESTMENTS
Group and Bank
2023 2022
rM’000 rM’000
Financial investments at FVOCI (Note 7) (87) 32
Financial investments at amortised costs (Note 8) (498) 125,993
Total allowances for ECL on financial investments (585) 126,025

36. ALLoWANCES For ECL oN oThEr ASSETS

Group and Bank
2023 2022
rM’000 rM’000

Allowances for ECL on other assets - 23

37. TAXATIoN
The major components of taxation for the years ended 31 December 2023 and 2022 are:
Group Bank
2023 2022 2023 2022
rM’000 rM’000 rM’000 rM’000
Deferred tax expense (Note 13):
- Origination and reversal of temporary differences 506 1,364 506 1,364
- Benefits from previously unutilised business losses (506) (1,364) (506) (1,364)
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Income tax is calculated at the Malaysian statutory tax rate of 24% (2022: 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
2023 2022 2023 2022
rM’000 rM’000 rM’000 rM’000
Profit/(Loss) before taxation 37,030 (60,965) 37,030 (60,965)

Income tax using Malaysian statutory tax rate
of 24% (2022: 24%) 8,887 (14,632) 8,887 (14,632)
Non-deductible expenses 6,637 1,935 6,637 1,935
Utilisation of previously unrecognised tax losses (4,513) - (4,513) -
Deferred tax assets not recognised on unutilised
business losses (11,011) 12,697 (11,011) 12,697
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