233 How We Are Governed Financial Statements Shareholders’ Information Additional Information 17. INTANGIBLE ASSETS (CONT’D.) (g) Impairment test on intangible assets The intangible assets consist of: Goodwill and client relationships Goodwill and client relationships have been allocated to the following CGUs: Group 2021 RM’000 2020 RM’000 Stockbroking 147,459 147,459 Investment banking 55,651 55,651 Investment management 41,099 40,197 244,209 243,307 Merchant banking licence - Merchant banking licence which is allocated to the Bank’s stockbroking and investment banking CGUs represents contribution to BNM for a licence to carry on merchant banking business to transform the Bank from a Universal Broker into an Investment Bank. Fund management contracts - Intangible asset relating to fund management contracts arising from the acquisition of one of the Bank’s subsidiary operations is allocated to the unit trust and asset management (investment management) CGU. Trading and clearing rights - The value of trading and clearing rights issued by Bursa Malaysia Derivatives Berhad which is allocated to the futures broking CGU.
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