13. INVESTMENTS IN SUBSIDIARIES Bank 2024 RM’000 2023 RM’000 At cost Balance as at the beginning of the financial year 349,971 101,827 Capital injection 36,716 248,144 Proceeds from partial disposal (69,227) – Gain on disposal 762 – Reclassification to investment in associate (41,799) – Balance as at the end of the financial year 276,423 349,971 Less: Accumulated impairment loss (23,422) (5,922) Balance as at the end of the financial year 253,001 344,049 The principal place of business and country of incorporation of the subsidiaries is Malaysia unless stated otherwise. Details of subsidiaries are as follows: Name of Company Principal activities Effective ownership interest 2024 % 2023 % Al-Wakalah Nominees (Tempatan) Sdn. Bhd. Provides nominee services 100 100 BIMB Investment Management Berhad Manages Islamic Unit Trust Funds 100 100 Bank Islam Trust Ltd (formerly known as Bank Islam Trust Company) (Labuan) Ltd. and its subsidiary: Provides services as a Labuan registered trust company 100 100 BIMB Offshore Company Management Services Sdn. Bhd. Dormant 100 100 BIMB Solutions Sdn. Bhd. (formerly known as Farihan Corporation Sdn. Bhd.) Provides management services to the Bank 100 100 BIMB Holdings Sdn. Bhd. Dormant 100 100 BIMB Securities (Holdings) Sdn. Bhd. and its subsidiary: Investment holding 100 100 BIMB Securities Sdn. Bhd. and its subsidiaries: Stockbroking 100 100 BIMSEC Nominees (Tempatan) Sdn. Bhd. Provides nominee services 100 100 BIMSEC Nominees (Asing) Sdn. Bhd. Provides nominee services 100 100 Syarikat Al-Ijarah Sdn. Bhd. Leasing of assets 100 100 BIMB ESG Sukuk Fund – Class D^ Wholesale unit trust fund^ 91 79 BIMB-Arabesque Global Shariah Sustainable Equity^ Wholesale unit trust fund^ 71 61 BIMB MYR Sukuk Income Fund^ Wholesale unit trust fund^ 95 – ^ The Fund is consolidated as the Group controls the fund in accordance with MFRS 10, Consolidated Financial Statements. Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 336 Notes to the Financial Statements for the financial year ended 31 December 2024
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