7 FINANCIAL STATEMENTS 335 23. CONTRACT RELATED ASSETS AND LIABILITIES (CONTD.) (b) Contract fulfillment asset Group 2025 RM’000 2024 RM’000 As at 1 January - 590 Utilised during the year - (590) As at 31 December - - In the previous financial year, these costs relate to direct cost incurred to generate or enhance resources used in satisfying the contracts with customers and amortised on a straight-line basis over the period of the respective contracts. The cost has been fully amortised in the previous financial year. 24. DEFERRED TAX Group 2025 RM’000 2024 RM’000 At 1 January 17,621 17,933 Recognised in statement of comprehensive income (Note 10) 4,351 (1,321) Acquisition of subsidiaries (Note 47(h)) - 1,495 Exchange differences 320 (486) At 31 December 22,292 17,621 Presented after appropriate offsetting as follows: Deferred tax assets (9,870) (19,592) Deferred tax liabilities 32,162 37,213 22,292 17,621
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