Page 236 - Bank-Muamalat-Annual-Report-2021

234 bank MuaMalat Malaysia berhaD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

NOTES TO THE FINANCIAL STATEMENTS
31 DECEMbEr 2021 (26 JAMADIL AwAL 1443H)

8(b). exPOsuRes TO cOvID-19 IMPAcTeD fINANcING (cONT’D.)

(iii) Overlays and adjustments for expected credit losses amid cOvID-19 environment
As the current MFRS 9 models are not expected to generate levels of expected credit losses (“ECL”) with sufficient
reliability in view of the unprecedented and on-going COVID-19 pandemic, overlays and post-model adjustments have
been applied to determine a sufficient overall level of ECL for the financial year ended 31 December 2021.

The overlays and post-model adjustments involved significant level of judgement and reflect the management’s views
of possible severities of the pandemic and paths of recovery in the forward looking assessment for ECL estimation
purposes.
The financing customers who have received payment supports remain in their existing stages unless they have been
individually identified as not viable or with subsequent indicators of significant increase in credit risk from each of their
pre-COVID-19 status. The overlays and post-model adjustments were generally made at portfolio level in determining
the sufficient level of ECL.
The total ECL overlays for the financial year ended 31 December 2021 is approximately 29.7% (2020: 14.5%) of the
Bank’s total ECL.

9. OTheR AsseTs
Group
2021 2020
rM’000 rM’000

Deposits 6,764 6,001
Prepayments 7,490 7,746
Tax prepayment 6,683 63,243
Foreclosed properties 8,604 9,665
Golf club membership 500 500
Other receivables 5,640 27,583

35,681 114,738
Less: Accumulated impairment losses (Note 9(a)) (1,981) (1,567)

33,700 113,171