1.4 1.4 As at the end of the financial year (230.8) (208.3) (134.1) (573.2) 2022 As at the beginning of the financial year (471.9) (128.2) (118.5) (718.6) Impairment loss recognised (54.9) (1.6) (9.6) (66.1) Impairment loss reversed 198.9 0 11.9 210.8 As at the end of the financial year (327.9) (129.8) (116.2) (573.9) The impact on the carrying value of the intercompany balances presented by the stages are as follows: Stage 1 RM’million Stage 2 RM’million Stage 3 RM’million Total RM’million 2023 Gross carrying amount 8,203.1 213.6 134.1 8,550.8 Less: Loss allowances (230.8) (208.3) (134.1) (573.2) Net carrying amount 7,972.3 5.3 0 7,977.6 2022 Gross carrying amount 10,340.8 133.8 116.2 10,590.8 Less: Loss allowances (327.9) (129.8) (116.2) (573.9) Net carrying amount 10,012.9 4.0 0 10,016.9 NOTES TO THE FINANCIALSTATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 320 45 FINANCIAL INSTRUMENTS (CONTINUED) (b) Financial risk management (continued) Credit risk (continued) (iii) Non-trade receivables (continued) • Other non-trade receivables, amounts due from associates and joint ventures Risk management objectives, policies and processes for managing the risk Credit risk on other non-trade receivables are mainly arising from RJO debtors which are receivables from specific works requested by customers. Credit risk also arises from sundry deposits for rental of office spaces from third parties and rental receivables. The Company manages the credit risk together with the specific leasing arrangements. Staff advances and staff loans have low credit risk as these are mostly provided to existing staff. These balances are managed on a monthly basis. Amounts due from associates and joint ventures are mostly due to transactions within the Group and have a low credit risk. These balances are managed on a monthly basis. Exposure to credit risk, credit quality and collateral At the end of the financial year, the maximum exposure to credit risk is represented by their carrying amounts in the SOFP.