MKH BERHAD | ANNUAL REPORT 2023 215 20. RECEIVABLES, DEPOSITS AND PREPAYMENTS (CONT’D) The Group The Company 2023 2022 2023 2022 Note RM RM RM RM Non-trade (Cont’d) Deposits for development land acquisition 100,000 100,000 - - Joint venture deposits for land development (g) 20,650,000 15,850,000 - - Other deposits (h) 39,852,381 25,238,704 30,000 30,000 Prepayments (i) 24,092,719 14,527,419 - - 229,121,573 203,462,727 79,496,728 68,809,762 Total receivables, deposits and prepayments 267,845,760 230,758,388 79,496,728 68,809,762 (a) The loan receivables pertain to the loan granted by a subsidiary of the Company to a third party in respect of a joint venture land development agreement entered between the third party and another subsidiary of the Company. The maturity profile of loan receivables is as follows: The Group 2023 2022 RM RM Fixed rate instruments Receivable within 1 year 15,805,727 15,769,977 Receivable after 1 year but not later than 2 years 1,000,000 855,723 Receivable after 2 years but not later than 3 years 13,762,566 50,000 Receivable after 3 years but not later than 4 years 9,100,659 12,195,845 39,668,952 28,871,545 The loan receivables bear effective interest at rates ranging from 5.0% to 8.5% (2022: 5.0% to 8.5%) per annum. The movement of allowance account used to record the impairment of loan receivables is as follows: The Group 2023 2022 RM RM At beginning of year 144,277 116,277 Additions (Note 6) 17,000 28,000 At end of year 161,277 144,277 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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