notes to the financial statements 31 march 2025 (cont’d.) 21. Trade receivables (cont’d.) Receivables that are impaired (cont’d.) Movement in the allowance for impairment loss: GROUP 2025 RM’000 2024 RM’000 At beginning of the year 53 11 Addiঞon for the year (Note 6) – 42 At end of the year 53 53 22. Contract assets/(liabilities) GROUP 2025 RM’000 2024 RM’000 Contract assets: Property development 329,819 289,668 Contract liabiliঞes: Property development 97,545 24,260 The Group issues progress billings to purchasers when the billing milestones are aained and recognises revenue when the performance obligaঞon is saঞsfied. The Group’s contract assets and contract liabiliঞes from costs to fulfil contracts are as follows: GROUP 2025 RM’000 2024 RM’000 Contract assets 329,819 289,668 Contract liabiliঞes (97,545) (24,260) Net 232,274 265,408 GROUP 2025 RM’000 2024 RM’000 At beginning of the year 265,408 307,644 Consideraঞon paid/payable to customers 94,105 146,507 Revenue recognised during the year 1,037,731 1,243,659 Progress billing during the year (1,164,970) (1,432,402) At end of the year 232,274 265,408 198 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 07 FINANCIAL STATEMENTS
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