2. Summary of material accounting policies (cont’d.) 2.20 Segment reporting For management purposes, the Group is organised into operaঞng segments that engage in business acঞviঞes from which it may earn revenues and incur expenses, including revenues and expenses that relate to transacঞons with any of the Group’s other components. The operaঞng segment’s operaঞng results are reviewed regularly by the chief operaঞng decision maker, which is the Group Execuঞve Deputy Chairman ("GEDC") and Group Execuঞve Director ("GED"), to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial informaঞon is available. 2.21 Current versus non-current classification Assets and liabiliঞes in statements of financial posiঞon are presented based on current/non-current classificaঞon. An asset is current when it is: - Expected to be realised or intended to sold or consumed in normal operaঞng cycle; - Held primarily for the purpose of trading; - Expected to be realised within twelve months a[er the reporঞng period; or - Cash or cash equivalent unless restricted from being exchanged or used to sele a liability for at least twelve months a[er the reporঞng period. All other assets are classified as non-current. A liability is current when: - It is expected to be seled in normal operaঞng cycle; - It is held primarily for the purpose of trading; - It is due to be seled within twelve months a[er the reporঞng period; or - There is no uncondiঞonal right to defer the selement of the liability for at least twelve months a[er the reporঞng period. All other liabiliঞes are classified as non-current. Deferred tax assets and liabiliঞes are classified as non-current assets and liabiliঞes. 3. Significant accounting judgements, estimates and assumptions The preparaঞon of the Group’s and Company’s financial statements require management to make judgement, esঞmates and assumpঞons that affect the reported amounts of revenue, expenses, assets and liabiliঞes, and the disclosure of conঞngent liabiliঞes at the reporঞng date. However, uncertainty about these assumpঞons and esঞmates result in outcomes that could require a material adjustment to the carrying amount of the asset and liability affected in the future periods. Key sources of estimation uncertainty The key assumpঞons concerning the future and other key sources of esঞmaঞon uncertainty at the reporঞng date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabiliঞes within the next financial year are discussed below: (a) Property development revenue The Group recognises property development revenue and expenses in the profit or loss over ঞme. The Group recognises revenue and profit from its property development acঞviঞes based on progress towards complete saঞsfacঞon of the performance obligaঞon. The progress towards complete saঞsfacঞon of the performance obligaঞon is measured based on the proporঞon of cost of the property development costs incurred to date over the total esঞmated property development costs. notes to the financial statements 31 march 2025 (cont’d.) 174 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 07 FINANCIAL STATEMENTS
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