(b) Cemen Malaysia Bhd (CMB) engages in manufacturing construction materials in Malaysia. On 3 March 2021, one of its employees had a mishap while mixing cement and was injured due to a faulty concrete plant. On 1 June 2021 the employee filed a lawsuit against CMB to claim injuries compensation. CMB closes its account on 31 December every year. Required: Discuss the appropriate accounting treatment for the following scenarios in accordance with IAS 37/ MFRS 137 Provision, Contingent Liabilities and Contingent Assets. (i) (ii) (iii) (iv) CMB's lawyers have advised that it is probable that the entity will be found liable for the employee's injury. CMB's lawyers have advised that they would not be held liable for the employee's injury. CMB's legal advisors believe that it is likely that CMB will lose the court case against the employee and have to pay out RM5 million. However, it has come to light that CMB may have a counterclaim against the manufacturer of the concrete plant. The legal advisors believe that there is an 80% chance that the counter claim against the manufacturer is likely to succeed and believe that CMB would win RM4 million. At 31 December 2021, the legal advisors of CMB believed CMB will lose the court case against the employee. CMB believes that the RM5 million payment from the court case would be payable in one year. CMB has a cost of capital of 10%.