NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 25. REVOLVING CREDITS THE GROUP 2024 2023 RM’000 RM’000 Current liabilities (Note 29) – 20,015 (a) The revolving credits are secured in the same manner as the bank overdrafts as disclosed in Note 28 to the financial statements. (b) The interest rate profile of the revolving credits is summarised below:- THE GROUP EFFECTIVE INTEREST RATE 2024 2023 % % Floating rate revolving credits – 5.30 – 5.50 26. TRADE PAYABLES AND CONTRACT LIABILITIES THE GROUP 2024 2023 RM’000 RM’000 Trade payables 111,156 61,940 Retention sum 4,223 6,162 Contract liabilities in relation to property development (Note 16) 24,260 40,485 Accruals 32,975 36,258 Provision – 4,318 172,614 149,163 The normal trade credit terms granted to the Group range from 30 days to 60 days (2023 – 30 days to 60 days). Other credit terms are granted to the Group on a case-by-case basis. FINANCIAL STATEMENTS MATRIX CONCEPTS HOLDINGS BERHAD 186
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