(continued) (b) Goodwill relating to operations in the United Kingdom (continued) The discounted cash flow model used cash flow projections which covered a 27-year period (2022: 28-year period). The following key assumptions has been applied in the VIU calculation: 2023 % 2022 % Revenue growth rate (3.5) (3.2) Pre-tax discount rate 8.4 7.8 The Group’s review includes an impact assessment of changes in key assumptions used. The effects of the movement in the key assumptions to the recoverable amount are as follows: Changes in assumptions % Impact on recoverable amount Increase RM’million Decrease RM’million 2023 Revenue growth rate 1.0 285.8 (252.7) Pre-tax discount rate 1.0 (143.2) 161.7 2022 Revenue growth rate 1.0 355.7 (312.7) Pre-tax discount rate 1.0 (158.1) 176.3 (c) Goodwill relating to operations in Australia The goodwillis deemed to be attributable to Spark Renewable’s future ability to develop and operate new renewable energy projects in Australia, as well as enhanced scale and operational diversity in its renewable projects portfolio. (d) Goodwill relating to operations in the Republic of Ireland The goodwill consists of potential upsides from extension of lease terms and grid connection approvals up to 15 years. 11 INVESTMENT IN UNQUOTED DEBT SECURITY Group and Company 2023 RM’million 2022 RM’million Unsecured Loan Notes 287.5 278.5 Less: Loss allowance (28.2) (25.1) 259.3 253.4 The Unsecured Loan Notes primarily related to the Islamic Medium Term Notes (‘IMTN’) facility subscription with a maturity period of 14 years and matures on 5 May 2034. Credit risk relating to debt instrument above is disclosed in Note 45(b) of the financial statements. Accounting Policy Investment in unquoted debt security is a financial instrument and the accounting policy is disclosed in Note 45. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 240 Accounting Policy Deferred tax is recognised on temporary differences arising between the tax bases of assets and