NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 16. CONTRACT ASSETS/(LIABILITIES) (CONT’D) (c) The following table shows revenue expected to be recognised in the future relating to performance obligations that are unsatisfied (or partially unsatisfied) at the reporting date (Cont’d):- THE GROUP 2024 2025 2026 2023 RM’000 RM’000 RM’000 Property development revenue 630,296 328,640 85,458 Education service 1,135 – – Membership fee 143 – – 631,574 328,640 85,458 17. FIXED DEPOSITS WITH LICENSED BANKS (a) The fixed deposits with licensed banks of the Group and of the Company at the end of the reporting period bear effective interest rates ranging from 1.55% to 4.10% (2023 – 0.80% to 2.80%) per annum and 3.00% to 3.10% (2023 – 0.80% to 2.86%) per annum respectively. The fixed deposits have maturity periods ranging from 28 to 365 (2023 – 28 to 365) days and 365 (2023 – 30 to 365) days for the Group and the Company respectively. (b) Included in the fixed deposits with licensed banks of the Group and the Company at the end of the reporting period was an amount of RM33,546,000 (2023 – RM29,777,000) and RM2,246,000 (2023 – RM2,198,000) which have been pledged to licensed banks as security for banking facilities granted to the Group as disclosed in Note 28 to the financial statements. 18. CASH AND BANK BALANCES Included in the cash and bank balances of the Group is an amount of RM204,738,000 (2023 – RM128,675,000) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act 1966, as amended by the Housing Developers (Housing Development Account) (Amendment) Regulation, 2002. The amount is held at call with banks and is available only to the subsidiaries involved in the property development activities. FINANCIAL STATEMENTS MATRIX CONCEPTS HOLDINGS BERHAD 182
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