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FoR BetteR RetuRns Annual Report 2022 197

notes to the
financial statements
for the year ended 31 december 2022

18. DERIVATIVE FINANCIAL ASSETS AND LIABILITIES (CONTINUED)
the outstanding forward exchange rate contracts as at 31 december 2022 were designated as hedges of firm
commitments with highly probable future payments and net revenue denominated in foreign currencies.
the terms of the cross-currency swap and forward exchange rate contracts were negotiated to match the terms of
the commitments. there were neither previous application nor expectation of the occurrence of hedge accounting in
relation to the said highly probable future transactions.

19. SUNDRY DEBTORS AND DEPOSITS

Group KWAP
31 December 31 December 31 December 31 December
2022 2021 2022 2021
RM’000 RM’000 RM’000 RM’000
deposit received 11,885 14,411 1,629 1,678
prepayment and advances 53,000 9,136 7,191 2,726
tax recoverable 36,480 38,394 35,108 34,030
other receivables 107,523 70,679 66,653 128,435
208,888 132,620 110,581 166,869

(a) Movements in allowance for sundry debtors and deposits

there was no allowance for impairment losses for sundry debtors and deposits during the year (2021: nil).
(b) Impact of movements in the gross carrying amount on allowance for impairment losses

allowance for impairment losses reflected the ecl measured using the simplified approach under the mfrs 9,
as described in the significant accounting policies section.
there was no allowance for impairment losses during the year (2021: nil).

(c) Write-offs still under enforcement activity
there was no outstanding contractual amount written off during the year (2021: nil).