280 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 Additional Information We Are Kenanga Message From Our Leaders Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information 50. FINANCIAL RISK MANAGEMENT (CONT’D.) (a) Credit risk (cont’d.) Impairment assessment (cont’d.) Forward-looking and probability-weighted (cont’d.) Multiple-scenario Analysis (cont’d.) The scenarios by state of economy namely, “Booming”, “Normal” and “Downside” were used as defined in below table: State of Economy GDP Growth Rate (annual) KLCI Index (point) Downturn (D) <4.0% <1,700 Normal (N) 4.0%-6.0% -1,700 - 1,900 Booming (B) >6.0% >1,900 The assumptions used for the ECL estimates as at 31 December 2022 are set out below. Economic Factor Scenario 2022 2023 2024 GDP Growth Rate 1 B N B 2 B N N 3 D D D KLCI Index 1 D N N 2 D D N 3 D D D The assumptions used for the ECL estimates as at 31 December 2021 are set out below. Economic Factor Scenario 2021 2022 2023 GDP Growth Rate 1 N B N 2 D N N 3 D D D KLCI Index 1 N B B 2 D D N 3 D D D The weightings assigned to each state of economy as at 31 December 2022 were as follows: State of Economy Weighting All portfolios B 15% N 80% D 5%
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