158 C I M F I N A N C I A L S E R V I C E S L T D Receivables from subsidiaries Gross carrying amount ECL Stage 1 Stage 1 MUR m MUR m At 1 October 2019 55.4 0.5 Repayments (7.4) - At 30 September 2020 48.0 0.5 Amalgamation adjustment (39.5) - At 30 September 2021 8.5 0.5 Loan at call to subsidiaries Gross carrying amount ECL Stage 1 Stage 1 MUR m MUR m At 1 October 2020 112.5 0.5 Additions 162.9 0.5 Repayments (132.0) (0.3) At 30 September 2020 143.4 0.7 Amalgamation adjustment (119.9) - Additions 9.4 - At 30 September 2021 32.9 0.7 19. INVENTORIES 20. INVESTMENTS IN SUBSIDIARIES GROUP COMPANY Sep-21 MUR m Sep-20 MUR m Sep-21 MUR m Sep-20 MUR m Cost Consumables 3.0 2.0 3.0 - COMPANY Sep-21 MUR m Sep-20 MUR m At 1 October 1,118.1 1,130.3 Elimination of investment on amalgamation (963.3) - Impairment - (12.2) At 30 September 154.8 1,118.1 (a) Elimination of investment on amalgamation On amalgamation of the 5 subsidiaries with and into Cim Financial Services Ltd (refer to Accounting policies 2.4), the investments of the respective companies by the Holding company were eliminated against cost of investments. (b) Impairment of investments In preparing the financial statements, the directors make an assessment regarding the recoverability of its investment in subsidiaries to determine if any impairment is required. In cases where the carrying amounts are greater than the recoverable amounts, the carrying amounts are reduced to their recoverable amounts. As at 30 September 2021, the Company assessed for impairment of its investments in subsidiaries, in accordance with IAS 36 - Impairment of Assets where a value in use approach has been used. No impairment charge was recognised for 2021 (2020:MUR 12.2M). Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s (a) Receivables from subsidiaries Receivables from subsidiaries and related companies are unsecured and carry an interest rate ranging from 2.7% to 6.3%. An analysis of the changes in the gross carrying amounts and the corresponding ECL allowance is as follows : 18. OTHER ASSETS (CONT’D)
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