Standard Chartered Saadiq Berhad: Financial Statements - 31 March 2017

Transcription

1. Company No . 823437K Standard Chartered Saadiq Berhad (Company No. 823437K) (Incorporated in Malaysia) Financial statements for the three months ended 31 March 2017
2. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2017 Note Assets Cash and short term funds Investment securities available-for-sale Financing and advances Derivative financial assets Other assets Current tax assets Statutory deposits with Bank Negara Malaysia Property, plant and equipment Deferred tax assets Total assets Liabilities Deposits from customers Investment account of customers Deposits and placements of banks and other financial institutions Investment account due to designated financial institutions Derivative financial liabilities Other liabilities Subordinated sukuk Total liabilities 31 December 2016 RM'000 1,705,744 99,900 5,829,567 308,390 781,679 3,598 140,673 118 3,735 8,873,404 1,392,350 99,576 6,600,489 294,900 627,453 4,707 143,150 151 5,803 9,168,579 15 16 2,574,873 771,125 2,389,883 668,677 17 18 2,241,827 1,813,287 316,959 437,732 100,000 8,255,803 2,590,008 1,937,198 308,333 568,696 100,000 8,562,795 102,750 514,851 617,601 102,750 503,034 605,784 8,873,404 9,168,579 8,267,521 8,365,793 10 11 13 14 19 Equity Share capital Reserves Total equity attributable to equity holder of the Bank Total liabilities and equity Commitments and contingencies 31 March 2017 RM'000 27 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the financial year ended 31 December 2016. Page 1
3. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE 1ST QUARTER AND THREE MONTHS ENDED 31 MARCH 2017 Note Income derived from investment of depositors' funds Income derived from investment of investment account funds Income derived from investment of shareholder's funds Allowances for impairment on financing and advances Total distributable income Profit/hibah distributed to depositors Profit distributed to investment account holders Total net income Other operating expenses Profit before taxation Tax expense Profit for the period Other comprehensive (expense)/income, net of income tax Items that may be reclassified subsequently to profit or loss Fair value reserve (investment securities available for sale): Net change in fair value Other comprehensive (expense)/income for the period, net of income tax Total comprehensive income for the period 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 20 79,481 83,547 79,481 83,547 21 24,824 27,350 24,824 27,350 22 16,503 20,058 16,503 20,058 23 (203) 120,605 (54,004) (20,724) 45,877 (30,280) 15,597 (4,054) 11,543 (4,856) 126,099 (59,271) (21,585) 45,243 (35,027) 10,216 (2,523) 7,693 (203) 120,605 (54,004) (20,724) 45,877 (30,280) 15,597 (4,054) 11,543 (4,856) 126,099 (59,271) (21,585) 45,243 (35,027) 10,216 (2,523) 7,693 24 25 26 274 (1,299) 274 (1,299) 274 (1,299) 274 (1,299) 11,817 6,394 11,817 6,394 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the financial year ended 31 December 2016. Page 2
4. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS ENDED 31 MARCH 2017 Distributable Reserves Retained profits RM'000 Non-Distributable Reserves Share capital RM'000 Share premium RM'000 Statutory reserves RM'000 AFS reserves RM'000 102,750 308,250 102,750 Fair value reserve (investment securities availablefor-sale):Net changes in fair value - - - Total other comprehensive expense for the period - - Profit for the period - Total comprehensive income for the period At 1 January 2017 At 31 March 2017 (805) - Total RM'000 92,839 605,784 274 - 274 - 274 - 274 - - - 11,543 11,543 - - - 274 11,543 11,817 102,750 308,250 102,750 (531) 104,382 617,601 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the financial year ended 31 December 2016. Page 3
5. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS ENDED 31 MARCH 2017 Distributable Reserves Retained profits RM'000 Non-Distributable Reserves Share capital RM'000 Share premium RM'000 Statutory reserves RM'000 AFS reserves RM'000 RM'000 102,750 308,250 102,750 Fair value reserve (investment securities available for-sale):Net changes in fair value - - - (1,299) - (1,299) Total other comprehensive income for the period - - - (1,299) - (1,299) Profit for the period - - - Total comprehensive income for the period - - - 102,750 308,250 102,750 At 1 January 2016 At 31 March 2016 1,863 Total (1,299) 564 60,737 576,350 7,693 7,693 7,693 6,394 68,430 582,744 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the financial year ended 31 December 2016. Page 4
6. Company No . 823437 K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED 31 MARCH 2017 31 March 2017 RM'000 Profit before taxation Adjustment for non-operating items Adjustment for non-cash items Operating profit before working capital changes Changes in working capital Net changes in operating assets Net changes in operating liabilities Income taxes paid Net cash generated from operating activities Net cash generated from investing activities Net increase in cash and cash equivalents Cash and cash equivalent at beginning of the year Cash and cash equivalent at end of the period 15,597 254 15,851 614,102 (315,617) (963) 313,373 21 313,394 1,392,350 1,705,744 31 March 2016 RM'000 10,216 (587) 9,629 1,542,044 (1,046,630) (1,918) 503,125 429,817 932,942 1,404,220 2,337,162 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the financial year ended 31 December 2016. Page 5
7. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) REVIEW OF PERFORMANCE The Bank registered a pre-tax profit of RM 15.60 million, a 52.67% increase against the corresponding period last year as operating expenses reduced by 13.56% year on year. In addition, provision for financing improved by RM 4.65 million against the corresponding period. Financing and advances decreased by 11.68% to RM 5.83 billion while there was an increase in deposit from customers of 7.74% to RM 2.57 billion. The Bank’s Common Equity Tier 1 capital ratio and Total Capital Ratio remained strong at 18.49% and 21.76%, respectively. PROSPECTS Our Retail business will continue enhancing customer value propositions while investing in technology and people and expanding our partnerships and alliances while the focus of Commercial Banking business will be to ensure a balanced and healthy portfolio supporting high growth sectors. Meanwhile, our Corporate and Institutional Banking segment will continue to align with the Standard Chartered PLC Global Banking agenda, with emphasis on elevating our client relationships through resourcing of coverage teams. Page 6
8. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) Notes to the financial statements for the three months ended 31 March 2017 1. Basis of preparation of the financial statements The unaudited condensed interim financial statements for the first quarter and the three months ended 31 March 2017 have been prepared in accordance with Malaysian Financial Reporting Standards ("MFRS") 134, Interim Financial Reporting in Malaysia. The accounting policies and methods of computation in the unaudited condensed interim financial statements are consistent with those adopted in the last audited financial statements, except for the adoption of the following MFRS and Amendments to MFRSs during the current financial period: MFRSs and Amendments to MFRSs effective for annual periods beginning on or after 1 January 2017 Statement of Cash Flows – Disclosure Initiative i) Amendments to MFRS 107 Income Taxes – Recognition of Deferred Tax Assets for Unrealised Losses ii) Amendments to MFRS 112 The adoption of the above MFRS and Amendments to MFRSs do not have any material impacts on the financial statements of the Group and the Bank. The following MFRSs and Amendments to MFRSs have been issued by the Malaysian Accounting Standards Board ("MASB") but are not yet effective: MFRSs and Amendments to MFRSs effective for annual periods beginning on or after 1 January 2018 Financial Instruments (2014) i) MFRS 9 Revenue from Contracts with Customers ii) MFRS 15 MFRSs, Interpretations and amendments effective for annual periods beginning on or after 1 January 2019 Leases i) MFRS 16 MFRSs and and Amendments to MFRSs effective for a date yet to be confirmed Consolidated Financial Statements and MFRS 128, Investments in i) Amendments to MFRS 10 Associates and Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The initial application of the abovementioned accounting standards and amendments are not expected to have any material impact to the financial statements of the Bank except as mentioned below:MFRS 15, Revenue from Contracts with Customers MFRS 15 replaces the guidance in MFRS 111, Construction Contracts, MFRS 118, Revenue, IC Interpretation 13, Customer Loyalty Programmes, IC Interpretation 15, Agreements for Construction of Real Estate, IC Interpretation 18, Transfer of Assets from Customers and IC Interpretation 131, Revenue - Barter Transactions Involving Advertising Services. The Bank are currently assessing the financial impact that may arise from the adoption of MFRS 15. MFRS 9, Financial Instruments MFRS 9 replaces the guidance in MFRS 139, Financial Instruments: Recognition and Measurement on the classification and measurement of financial assets. Upon adoption of MFRS 9, financial assets will be measured at either fair value or amortised cost. The adoption of MFRS 9 will result in a change in accounting policy. The Bank are currently assessing the financial impact of adopting MFRS 9. Page 7
9. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 1. Basis of preparation of the financial statements (continued) The unaudited interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2016. The explanatory notes attached in the unaudited condensed interim financial statements provide an explanation of events and transactions that are significant for an understanding of the changes in the financial position and performance of the Bank since the financial year ended 31 December 2016. 2. Auditor's report on preceding annual financial statements The auditor's report on the financial statements for the financial year ended 31 December 2016 was not qualified. 3. Seasonal or cyclical factors The business operations of the Bank have not been affected by any material seasonal or cyclical factors. 4. Unusual items due to their nature, size or incidence There were no unusual items affecting the assets, liabilities, equity, net income or cash flows of the Bank in the first quarter and three months ended 31 March 2017 . 5. Changes in accounting estimates There were no material changes in estimates of amounts reported that have a material effect on the unaudited condensed interim financial statements in the first quarter and three months ended 31 March 2017 . 6. Issuances, cancellations, repurchases, resale and repayments of securities portfolio There were no issuance and repayment of debt and equity securities, share-buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares in the first quarter and three months ended 31 March 2017 . 7. Proposed Dividend No dividend has been proposed for the first quarter and the three months ended 31 March 2017 . 8. Subsequent events There were no material events subsequent to the statement of financial position date that requires disclosure or adjustments to the unaudited condensed interim financial statements. 9. Changes in the composition of the Bank There were no changes in the composition of the Bank during the three months ended 31 March 2017 . 10. Investment securities available-for-sale 31 March 2017 RM'000 31 December 2016 RM'000 At fair value Government Islamic bonds 99,900 99,900 99,576 99,576 Page 8
10. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 11. Financing and advances (i) By type and by contract As at 31 March 2017 Term financing - House financing - Hire purchase receivables - Lease receivables - Other term financing Bills receivable Trust receipts Staff financing Revolving credit Bai'^ Ijarah Ijarah Thumma AlBai Murabahah Tawarruq Musyarakah Mutanaqisah Others Total financing and advances RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 889,769 242,874 4,016 373,090 1,509,749 2,536,096 833,927 3,370,023 471,892 402,240 211,262 762 1,086,156 138,185 138,185 87,830 87,830 10,430 108,376 118,806 41,444 47,886 89,330 Less: Unearned income Gross financing and advances 3,007,988 87,830 179,629 2,173,822 464,566 108,376 4,778 373,090 6,400,079 (472,502) 5,927,577 Less: Impairment provisions on financing and advances:- Individual impairment provisions - Collective impairment provisions Total net financing and advances (30,060) (67,950) 5,829,567 ########### (6,600,489) ^ Bai' comprises of Bai-Bithaman Ajil, Bai Al-Inah and Bai-Al-Dayn. Page 9
11. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 11. Financing and advances (continued) (i) By type and by contract (continued) As at 31 December 2016 Term financing - House financing - Hire purchase receivables - Lease receivables - Other term financing Bills receivable Trust receipts Staff financing Revolving credit Bai'^ Ijarah Ijarah Thumma AlBai Murabahah Tawarruq Musyarakah Mutanaqisah Others Total financing and advances RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 989,561 379,362 3,760 725,355 2,098,038 2,580,078 856,075 3,436,153 488,088 185,758 224,856 801 899,503 256,026 256,026 101,619 101,619 30,208 295,550 325,758 99,207 99,207 Less: Unearned income Gross financing and advances 3,068,166 101,619 256,026 2,130,601 634,426 295,550 4,561 725,355 7,216,304 (508,989) 6,707,315 Less: Impairment provisions on financing and advances:- Individual impairment provisions - Collective impairment provisions Total net financing and advances (26,162) (80,664) 6,600,489 Bai' comprises of Bai-Bithaman Ajil, Bai Al-Inah and Bai-Al-Dayn. Page 10
12. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 11. Financing and advances (continued) (ii) By type of customer 31 March 2017 RM'000 Domestic non-bank financial institutions Domestic business enterprises Small medium enterprises Others Individuals Foreign entities (iii) 88,080 2,540,746 915,579 1,625,167 2,754,247 544,504 5,927,577 298,625 2,957,681 1,001,368 1,956,313 2,842,028 608,981 6,707,315 By profit rate sensitivity 31 March 2017 RM'000 Fixed rate - House financing - Hire purchase receivables - Other financing Variable rate - House financing - Revolving credit - Other financing (iv) 31 December 2016 RM'000 31 December 2016 RM'000 1,291 87,830 885,134 1,363 101,619 1,091,654 3,006,697 373,090 1,573,535 5,927,577 3,066,795 725,355 1,720,529 6,707,315 By sector 31 March 2017 RM'000 Agriculture Mining and quarrying Manufacturing Electricity, gas and water Construction Real estate Wholesale & retail trade and restaurants & hotels Transportation, storage and communication Finance, insurance and business services Household Others 133,164 93,118 719,646 1,655 148,535 338,657 473,335 66,552 510,833 3,251,978 190,104 5,927,577 - 31 December 2016 RM'000 130,240 239,849 685,188 1,694 168,784 339,622 815,775 73,754 665,412 3,344,557 242,440 6,707,315 Page 11
13. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 11. Financing and advances (continued) (v) By purpose 31 March 2017 RM'000 Purchase of landed property - Residential - Non-residential Fixed assets excluding land and building Personal Use Working Capital (vi) 2,770,793 852,219 82,476 273,938 1,948,151 5,927,577 2,821,086 875,003 95,725 308,380 2,607,121 6,707,315 By maturity structure 31 March 2017 RM'000 Maturing within one year One year to three years Three years to five years Over five years (vii) 31 December 2016 RM'000 1,033,055 492,691 718,571 3,683,260 5,927,577 31 December 2016 RM'000 1,708,542 466,481 589,916 3,942,376 6,707,315 By geographical distribution 31 March 2017 RM'000 Within Malaysia Outside Malaysia 5,880,804 46,773 5,927,577 31 December 2016 RM'000 6,600,863 106,452 6,707,315 (viii) Analysis of foreign currency exposure 31 March 2017 RM'000 USD Other foreign currencies 962,117 2,361 964,478 31 December 2016 RM'000 1,051,860 9,976 1,061,836 Page 12
14. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 12. Impaired financing and advances (i) Movements in impaired financing and advances 31 March 2017 RM'000 At 1 January Classified as impaired during the financial period/year Reclassified as performing during the financial period/year Amount recovered during the financial period/year Amount written off during the financial period/year At end of reporting period/year Individual impairment provisions Net impaired financing and advances 56,883 24,997 (23,558) (987) (9,401) 47,934 (30,060) 17,874 31 December 2016 RM'000 36,817 120,084 (54,623) (3,408) (41,987) 56,883 (26,162) 30,721 (ii) Movements in impairment provisions for financing and advances 31 March 2017 RM'000 Collective impairment provisions At 1 January Impairments made during the financial period/year Amount written back At end of reporting period/year As a percentage of gross financing and advances less individual impairment provisions 80,664 1,022 (13,736) 67,950 93,350 20,459 (33,145) 80,664 1.15% 1.21% 31 March 2017 RM'000 Individual impairment provisions At 1 January Impairments made during the financial period/year Amount written back Amount written off At end of reporting period/year 31 December 2016 RM'000 26,162 20,373 (4,093) (12,382) 30,060 31 December 2016 RM'000 28,622 74,205 (13,948) (62,717) 26,162 Page 13
15. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 12. Impaired financing and advances (continued) (iii) Impaired financing and advances by sector 31 March 2017 RM'000 Manufacturing Construction Wholesale & retail trade and restaurants & hotels Transportation, storage and communication Finance, insurance and business services Household Others 438 1,166 4,986 3,085 1,177 32,325 4,757 47,934 31 December 2016 RM'000 839 455 6,272 3,537 1,086 41,212 3,482 56,883 (iv) Impaired financing and advances by purpose 31 March 2017 RM'000 Purchase of landed property - Residential - Non-residential Fixed assets excluding land and building Personal use Working capital 21,447 20,837 610 2,967 16,402 7,118 47,934 31 December 2016 RM'000 30,427 25,262 5,165 2,743 15,550 8,163 56,883 (v) Impaired financing and advances by geographical distribution 31 March 2017 RM'000 Within Malaysia 47,934 31 December 2016 RM'000 56,883 13. Other assets 31 March 2017 RM'000 Income receivable Other receivables, deposits and prepayments 782 780,897 781,679 31 December 2016 RM'000 1,544 625,909 627,453 14. Statutory deposits with Bank Negara Malaysia The non-interest bearing statutory deposits maintained with Bank Negara Malaysia are in compliance with Section 26(2)(c) of the Central Bank of Malaysia Act, 2009 to satisfy the Statutory Reserve Requirement (“SRR”); the amounts of which are determined at set percentages of total eligible liabilities. Page 14
16. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 15. Deposits from customers (i) By type of deposits 31 March 2017 RM'000 Demand deposits - Wadiah 31 December 2016 RM'000 809,263 758,035 82,725 86,787 Term deposits 1,682,885 1,545,061 - Tawarruq - Mudharabah 1,524,126 21,150 1,388,369 21,084 119,853 118,009 Saving deposits - Wadiah Negotiable instruments of deposits - Bai-Inah Structured deposits - Tawarruq 17,756 17,599 2,574,873 2,389,883 The maturity structure of the investment deposits, general investment deposits and negotiable instrument of deposits is as follows:31 March 2017 RM'000 Due within six months Six months to one year One year to three years Three years to five years 1,261,256 230,424 71,352 119,853 1,682,885 31 December 2016 RM'000 1,271,162 155,890 118,009 1,545,061 (ii) By type of customers 31 March 2017 RM'000 Government and statutory bodies Business enterprises Individuals Others 660,071 902,446 624,611 387,745 2,574,873 - 31 December 2016 RM'000 667,230 616,513 644,093 462,047 2,389,883 Page 15
17. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 16. Investment account of customers 31 March 2017 RM'000 31 December 2016 RM'000 Unrestricted investment accounts Without maturity Mudharabah By type of customers Business enterprises Individuals Others 771,125 668,677 140,326 586,830 43,969 771,125 42,976 581,538 44,163 668,677 17. Deposits and placements of banks and other financial institutions 31 March 2017 RM'000 Non-Mudharabah Licensed banks Other financial institutions 31 December 2016 RM'000 2,166,872 74,955 2,241,827 2,528,988 61,020 2,590,008 Restricted investment accounts Mudharabah 1,813,287 1,937,198 By type of counterparties Licensed bank 1,813,287 1,937,198 18. Investment accounts due to designated financial institutions Mudharabah deposit placement of licensed bank is a placement under the Profit Sharing Investment Account ("PSIA") concept by the Bank's immediate holding company . 19. Other liabilities 31 March 2017 RM'000 Income payable Other payables and accruals 19,097 418,635 437,732 31 December 2016 RM'000 22,587 546,109 568,696 Page 16
18. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 20. Income derived from investment of depositors' funds 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Income derived from investment of:(i) Term deposits (ii) Other deposits (i) 58,518 20,963 79,481 55,150 28,397 83,547 Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 58,518 20,963 79,481 55,150 28,397 83,547 Income derived from investment of term deposits 1st Quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Finance income and hibah Financing and advances Investment securities available-for-sale Money at call and deposits with financial institutions Amortisation of premium less accretion of discount Total finance income and hibah Other operating income Fees and commission income:- Arising from financial instruments not fair valued through profit or loss Fees and commission expense:- Arising from financial instruments not fair valued through profit or loss Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 47,090 570 46,677 361 47,090 570 46,677 361 7,604 55,264 5,525 52,563 7,604 55,264 5,525 52,563 (1,844) 53,420 (1,400) 51,163 (1,844) 53,420 (1,400) 51,163 5,955 5,842 5,955 5,842 (857) 5,098 58,518 (1,855) 3,987 55,150 (857) 5,098 58,518 (1,855) 3,987 55,150 Page 17
19. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 20. Income derived from investment of depositors' funds (continued) (ii) Income derived from investment of other deposits 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Finance income and hibah Financing and advances Investment securities available-for-sale Money at call and deposits with financial institutions Amortisation of premium less accretion of discount Total finance income and hibah Other operating income Fees and commission income:- Arising from financial instruments not fair valued through profit or loss Fees and commission expense:- Arising from financial instruments not fair valued through profit or loss Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 16,869 204 24,034 186 16,869 204 24,034 186 2,724 19,797 2,845 27,065 2,724 19,797 2,845 27,065 (660) 19,137 (721) 26,344 (660) 19,137 (721) 26,344 2,133 3,008 2,133 3,008 (307) 1,826 20,963 (955) 2,053 28,397 (307) 1,826 20,963 (955) 2,053 28,397 21. Income derived from investment of investment account funds 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Finance income and hibah Financing and advances Investment securities available-for-sale Money at call and deposits with financial institutions Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 17,662 - 17,828 2,597 17,662 - 17,828 2,597 7,162 24,824 6,925 27,350 7,162 24,824 6,925 27,350 Page 18
20. Company No . 823437K STANDARD CHARTERED SAADIQ BERHAD (Incorporated in Malaysia) 22. Income derived from investment of shareholder's funds 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Finance income and hibah Financing and advances Investment securities available-for-sale Money at call and deposits with financial institutions Amortisation of premium less accretion of discount Total finance income and hibah Other operating income Fees and commission income:- Arising from financial instruments not fair valued through profit or loss Fees and commission expense:- Arising from financial instruments not fair valued through profit or loss Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 13,280 161 16,977 131 13,280 161 16,977 131 2,145 15,586 2,009 19,117 2,145 15,586 2,009 19,117 (520) 15,066 (509) 18,608 (520) 15,066 (509) 18,608 1,679 2,125 1,679 2,125 (242) 1,437 16,503 (675) 1,450 20,058 (242) 1,437 16,503 (675) 1,450 20,058 23. Allowances for impairment on financing and advances 1st quarter ended 31 March 31 March 2017 2016 RM'000 RM'000 Provisions for financing:- Individual impairment provisions - Made in the financial period - Written back in respect of recoveries - Collective impairment provisions - Made in the financial period - Written back Bad and doubtful debts on financing and advances:- Recovered Three months ended 31 March 31 March 2017 2016 RM'000 RM'000 16,280 20,373 (4,093) 14,679 17,877 (3,198) 16,280 20,373 (4,093) 14,679 17,877 (3,198) (12,714) 1,022 (13,736) (6,723) 1,829 (8,552) (12,714) 1,022 (13,736) (6,723) 1,829 (8,552) (3,363) 203 (3,100) 4,856 (3,363) 203 (3,100) 4,856 Page 19