UEM EDGENTA BERHAD Integrated Annual Report 2025 334 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2025 23. CONTRACT RELATED ASSETS AND LIABILITIES Group 31.12.2025 RM’000 31.12.2024 RM’000 Restated 1.1.2024 RM’000 Restated Contract assets (a) Non-current 21,497 23,875 32,136 Current 337,580 473,312 423,900 359,077 497,187 456,036 Contract liabilities (a) Current (72,716) (33,727) (31,916) (a) Contract assets and liabilities Contract assets are initially recognised for revenue earned from services transferred which receipt of the consideration is conditional on the completion and final acceptance by customers. Upon final acceptance by the customers, the amounts recognised as contract assets becomes unconditional and are reclassified to trade receivables. As at 31 December 2025, the Group’s contract assets disclosed above is net of allowance for expected credit losses of RM3.5 million. Movements in allowance for ECL: Group 2025 RM’000 2024 RM’000 At 1 January - - Charge for the year (Note 7) 3,533 - At 31 December 3,533 - Contract liabilities include billings made in advance which represent amounts where customers have been invoiced ahead of the satisfaction of the performance obligation by the Group. Set out below is the amount of revenue recognised from: Group 2025 RM’000 2024 RM’000 Amounts included in contract liabilities at the beginning of the year 14,916 15,837
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