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EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 107
INDEPENDENT AUDITORS’ REPORT

TO THE MEMBERS OF EXPORT-IMPORT BANK OF MALAYSIA BERHAD
(INCORPORATED IN MALAYSIA)

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS

Opinion
We have audited the financial statements of Export-Import Bank of Malaysia Berhad, which comprise the statements of financial
position as at 31 December 2024 of the Group and the Bank, and statements of profit or loss, statements of comprehensive income,
statements of changes in equity and statements of cash flows of the Group and the Bank for the year then ended, and notes to the
financial statements, including material accounting policy information, as set out on pages 111 to 244.

In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Group and the Bank
as at 31 December 2024, and of their financial performance and their cash flows for the year then ended in accordance with MFRS
Accounting Standards (“MFRS”), IFRS Accounting Standards (“IFRS”) and the requirements of the Companies Act 2016 in Malaysia.
Basis for opinion
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing.
Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial
statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.

Independence and other ethical responsibilities
We are independent of the Group and the Bank in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of
the Malaysian Institute of Accountants (“By-Laws”) and the International Code of Ethics for Professional Accountants (including
International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with
the By-Laws and the IESBA Code.

Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the Group and of the Bank for the current financial year. These matters were addressed in the context of our audit
of the financial statements of the Group and of the Bank as a whole, and in forming our opinion thereon, and we do not provide a
separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that
context.

We have fulfilled the responsibilities described in the Auditors’ responsibilities for the audit of the financial statements section of our
report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to
our assessment of the risks of material misstatement of the financial statements of the Group and of the Bank. The results of our
audit procedures, including the procedures performed to address the matters below, provide the basis of our audit opinion on the
accompanying financial statements.