Affin Bank Berhad | Annual Report 2020

225 AFFIN BANK BERHAD 197501003274 (25046-T) | ANNUAL REPORT 2020 OTHER STATUTORY INFORMATION Statutory information regarding the Group and the Bank (a) As at the end of the financial year Before the financial statements of the Group and the Bank were prepared, the Directors took reasonable steps: • to ascertain that proper action had been taken in relation to the writing off of bad debts and financing and the making of allowance for doubtful debts and financing and satisfied themselves that all known bad debts and financing had been written-off and that adequate allowance had been made for doubtful debts; and • to ensure that any current assets, which were unlikely to be realised in the ordinary course of business including the values of current assets as shown in the accounting records of the Group and of the Bank had been written down to an amount which the current assets might be expected so to realise. (b) From the end of the financial year to the date of this report The Directors are not aware of any circumstances: • which would render the amounts written-off for bad debts and financing or the amount of the allowance for doubtful debts and financing inadequate to any substantial extent; • which would render the values attributed to current assets in the financial statements of the Group and of the Bank misleading; and • which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Bank misleading or inappropriate. (c) As at the date of this report (i) there are no charges on the assets of the Group and of the Bank which have arisen since the end of the financial year which secures the liabilities of any other person; (ii) there are no contingent liabilities in the Group and in the Bank which have arisen since the end of the financial year other than in the ordinary course of banking business or activities of the Group; or (iii) the Directors are not aware of any circumstances not otherwise dealt with in the report or financial statements which would render any amount stated in the financial statements misleading. (d) No contingent or other liability of any company in the Group has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which, in the opinion of the Directors, will or may affect the ability of the Bank and its subsidiaries to meet their obligations when they fall due. (e) At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or the financial statements of the Group and of the Bank which would render any amount stated in the respective financial statements misleading. (f) In the opinion of the Directors: (i) the results of the operations of the Group and of the Bank during the financial year were not substantially affected by any item, transaction or event of a material and unusual nature except for the impact of moratorium which resulted in a modification loss (Note 37); and (ii) there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely to affect substantially the results of the operations of the Group and of the Bank for the financial year in which this report is made. DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020