NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 14. DEFERRED TAX (ASSETS)/LIABILITIES (CONT’D) For the purpose of presentation in the consolidated statement of financial position, certain deferred tax assets and liabilities have been offset in the table above. The following is the analysis of the deferred tax balances for financial reporting purposes: THE GROUP 2024 2023 RM’000 RM’000 Deferred tax assets (28,046) (36,976) Deferred tax liabilities 48 250 (27,998) (36,726) 15. TRADE RECEIVABLES AND CONTRACT ASSETS THE GROUP 2024 2023 RM’000 RM’000 Trade receivables 255,122 269,718 Contract assets in relation to property development (Note 16) 289,668 348,129 544,790 617,847 Less: Allowance for impairment losses (53) (11) 544,737 617,836 Allowance for impairment losses: At the beginning of the year 11 11 Addition during the year (Note 32) 42 – At the end of the year 53 11 (a) The credit terms of the Group range from 14 to 60 (2023 – 14 to 60) days. (b) Other credit terms are assessed and approved on a case-by-case basis. FINANCIAL STATEMENTS MATRIX CONCEPTS HOLDINGS BERHAD 180
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