Page 230 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS

for the financial year ended 31 december 2020 (continUed)

14 INVESTMENTS IN SUBSIDIARIES
Company
2020 2019
RM’000 RM’000
At cost
99,053
99,053
Quoted shares in malaysia 5,503,792 5,210,042
inteGrated annUal rePort 2020 less: impairment loss^ 5,571,524 5,304,273
Unquoted shares in malaysia
(31,321)
(4,822)

^ during the financial year ended 31 december 2020, the company has made an impairment of rm14.7 million on its
investment in bimb Securities Sdn. bhd. and rm11.8 million on its investment in bimb Securities (holdings) Sdn. bhd. due to
lower than expected performance of the subsidiaries. the recoverable amount of investment in bimb Securities Sdn. bhd. is
RM34.9 million based on value in use and was determined using discount rate of 7.86% on a post-tax basis. BIMB Securities
(holdings) Sdn. bhd.’s recoverable amount is equivalent to the net tangible assets.
224
details of the subsidiaries are as follows:
Effective Ownership
Name of Company principal activities 2020 Interest
bimb holdinGS berhad 199701008362 (423858-X) bank islam malaysia berhad islamic banking business 100 100
2019
%
%
(“bank islam” or “the bank”)

Subsidiaries of Bank Islam Malaysia Berhad
managing islamic Unit trust funds
bimb investment management berhad
100
100
al-Wakalah nominees (tempatan) Sdn. bhd.
Provide manpower for the provision
farihan corporation Sdn. bhd. Provide nominee services 100 100
100
100
of services in the relevant areas
bank islam trust company (labuan) ltd. Provide services as labuan 100 100
registered trust company
Subsidiary of Bank Islam Trust Company (Labuan) Ltd.
bimb offshore company management resident corporate Secretary 100 100
Services Sdn. bhd. and director for offshore
companies
Syarikat takaful malaysia Keluarga family and General takaful business 59.19 59.45
berhad (“takaful malaysia”)

Subsidiaries of Syarikat Takaful Malaysia Keluarga Berhad
Syarikat takaful malaysia am berhad General takaful business 100 100

P.t. Syarikat takaful indonesia*# investment holding 56 56