BIMB Integrated Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 45. FINANCIAL RISK MANAGEMENT POLICIES (CONTINUED) 45.5 Liquidity risk (continued) (b) Takaful (continued) Maturity analysis The table below summarises the maturity profile of the financial liabilities of the Takaful Malaysia Group based on remaining undiscounted contractual obligations, including profit payable. For takaful contract liabilities, maturity profiles are determined based on estimated timing of net cash outflows from the recognised takaful liabilities. Investment-linked liabilities are repayable or transferable on demand and are included in the “up to a year” column. CARRYING UP TO >1 TO 3 >3 TO 5 MORE THAN NO VALUE A YEAR* YEARS YEARS 5 YEARS MATURITY TOTAL NOTE RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 2017 Provision for outstanding claims 22(a)(i) 253,121 115,520 106,973 25,011 5,617 – 253,121 Takaful payables 22(c) 106,983 106,983 – – – – 106,983 Other payables 328,975 326,639 2,336 – – – 328,975 689,079 549,142 109,309 25,011 5,617 – 689,079 2016 Provision for outstanding claims 22(a)(i) 259,275 144,104 79,424 25,032 10,715 – 259,275 Takaful payables 22(c) 83,411 83,411 – – – – 83,411 Other payables 333,208 330,766 2,442 – – – 333,208 675,894 558,281 81,866 25,032 10,715 – 675,894 * Expected utilisation or settlement is within 12 months from the reporting date. 46. TAKAFUL RISK MANAGEMENT (a) Family Takaful Fund The Family Takaful contracts consist of: (i) Family Takaful non-investment-linked contracts The Family Takaful non-investment-linked contracts are mainly credit related takaful products, group takaful schemes, yearly renewable individual ordinary medical plans, regular contribution individual ordinary plans and annuity plans. The main product types are Mortgage Reducing Term Takaful (MRTT), Group Credit Takaful, Group Term Takaful and Group Medical Takaful. (ii) Family Takaful investment-linked contracts The Family Takaful investment-linked contracts are mainly made up of regular contribution investment-linked products. The main products are Takaful myInvest and Takaful myGenLife. 278 BIMB HOLDINGS BERHAD Integrated Annual Report 2017