notes to the financial statements 31 march 2025 (cont’d.) 35. Financial instruments (cont’d.) Financial risk management objectives and policies (cont’d.) Determination of fair values The following are classes of financial instruments that are not carried at fair values and whose carrying amounts are reasonable approximaঞons of fair values: Trade receivables (Note 21) Other receivables (Note 17) Trade payables (Note 29) Other payables (Note 30) Lease liabiliঞes (Note 28) The carrying amounts of the financial assets and financial liabiliঞes are reasonable approximaঞons of fair values due to their shortterm nature. (a) Loans and borrowings The fair values of these financial instruments are esঞmated by discounঞng expected future cash flows at market incremental lending rate for similar types of lending, loans and borrowings or leasing arrangements at the reporঞng date. (b) Long-term receivables/payables Fair values of long-term receivables/payables are based on discounঞng expected future cash flows at market incremental lending rate for the receivables/payables. 36. Subsequent event On 8 April 2025, MCHB Development (KV) Sdn. Bhd., a wholly-owned subsidiary of the Company, had on 8 April 2025 entered into 3 separate Share Sale and Purchase Agreements (“SSPA”) for the following proposed acquisiঞons for a total cash consideraঞon of RM77.9 million: i. 625,000 Ordinary Shares in Horizon L&L Sdn Bhd (“HLLSB”) represenঞng 50% equity interest in HLLSB; ii. 10,000 Ordinary Shares in Exoland Property Management Sdn Bhd (“EPMSB”) represenঞng 100% equity interest in EPMSB; and iii. 225,000 Ordinary Shares in Horizon L&L (Sel) Sdn Bhd (“HLLSEL”) represenঞng 30% equity interest in HLLSEL . 216 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 07 FINANCIAL STATEMENTS
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