Page 214 - EXIM-BANK-AR20

212 EXIM BANK MALAYSIA
Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS

44. ISLAMIC BUSINESS FUNDS (CONT’D.)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December
2020 (cont’d.)

(d) Islamic financing (cont’d.)
(viii) Movements in the allowance for impaired advances and financing are as follows:

Stage 1 Stage 2 Stage 3
Lifetime ECL Lifetime ECL
12-month not credit credit
ECL impaired impaired Total ECL
2020 RM’000 RM’000 RM’000 RM’000

At 1 January 35,801 39,453 686,375 761,629
Transferred to/(from) Stage 1 (281) 38 243 -
Transferred (to)/from Stage 2 - (1,713) 1,713 -
(Written back)/allowance 12,586 (6,322) (14,724) (8,460)
Financial assets derecognised (11,984) (30) - (12,014)
Changes due to change in credit risk (4,090) 4,759 - 669
Modification to contractual cash flows of
financial assets (1,728) 18,477 - 16,749
Total net profit and loss charge during the period (5,497) 15,209 (12,768) (3,056)
Write offs - - (4,496) (4,496)
Exchange differences - - (11,134) (11,134)
At 31 December 30,304 54,662 657,977 742,943

2019
At 1 January 65,036 26,459 811,872 903,367
Transferred to Stage 1 (4,128) - - (4,128)
Transferred to Stage 2 - 14,259 - 14,259
(Written back)/allowance (6,833) 760 72,165 66,092
Financial assets derecognised (17,027) (2,455) - (19,482)
Changes due to change in credit risk (3,111) 430 - (2,681)
Modification to contractual cash flows of
financial assets 1,864 - - 1,864
Total net profit and loss charge during the period (29,235) 12,994 72,165 55,924
Write offs - - (170,113) (170,113)
Exchange differences - - (27,549) (27,549)

At 31 December 35,801 39,453 686,375 761,629