NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023 (CONT’D) 12. OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS (CONT’D) THE GROUP THE COMPANY 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 (c) Allowance for impairment losses: At the beginning of the year - 7,000 - - Addition/(Reversal) during the year:- - other receivable (Note 32) 3,042 - - - - deposits 7,000 (7,000) - - At the end of the year 10,042 - - - THE GROUP THE COMPANY 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 (d) Costs to secure contracts: Incremental costs of obtaining a contract At the beginning of the year 40,829 21,563 - - Add: Incurred during the financial year 79,293 82,621 - - 120,122 104,184 - - Less: Cost recognised in profit or loss during the financial year (74,310) (63,355) - - At the end of the year 45,812 40,829 - - Costs to secure contracts relating to sales agent commission, contract coordinator costs and legal costs incurred to secure sales of property units are recognised in the profit or loss in proportion to the income recognised for the respective financial years. INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 189
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