Notes to the Financial Statements for the Financial Year Ended 30 September 2024 Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 253 20. RECEIVABLES, DEPOSITS AND PREPAYMENTS (CONT’D) (e) Included in other receivables of the Group and of the Company are: (i) an amount of RM5,355,494 (2023: RM5,645,075) being unbilled rental income receivables; (ii) an amount of RM10,456,645 (2023: RM10,706,090) being indirect taxes paid in advance to tax authorities; and (iii) an amount of RM2,110,539 (2023: RM2,452,057) being amount due from Plasma Farmers Cooperative in Indonesia. The movement of allowance account used to record the impairment of other receivables is as follows: The Group The Company 2024 2023 2024 2023 RM RM RM RM At beginning of year 5,400,510 5,406,936 16,154 22,580 No longer required (Note 6) (8,672) (6,426) - (6,426) Written off (5,185,190) - - - At end of year 206,648 5,400,510 16,154 16,154 The impaired other receivables at the reporting date relate to debtors that have defaulted on payment. These receivables are not secured by any collateral or credit enhancements. (f) The joint venture deposits of the Group are paid to landowners in respect of Joint Venture Agreements (“Agreements”) whereby the Group is responsible to implement and undertake the overall development projects on the land owned by the third parties upon fulfilment of the terms and conditions as stipulated in the Agreements. (i) Included in the joint venture deposits of the Group, is an addition in respect of a subsidiary acquired during the financial year as disclosed in Note 15, being a deposit paid to landowners amounting to RM10,000,000 in respect of development right agreement (“DRA”) whereby the Group is responsible to implement and undertake the overall development project on the two (2) parcels of leasehold lands owned by the third party upon fulfilment of the terms and conditions as stipulated in the DRA. The deposit paid is to be accounted for as part payment of the returns to landowners as stipulated in the DRA. (ii) During the financial year, the Group reclassified joint venture deposits amounted to RM10,000,000 to property development costs upon fulfilment of terms and conditions stipulated in the Agreements as disclosed in Note 21.
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