Integrated Annual Report 2024 SECTION 6 • FINANCIAL STATEMENTS 279 Notes to the Financial Statements 12. TRADE AND OTHER RECEIVABLES, PREPAYMENT AND OTHER ASSETS (CONT’D) Prepayment and other assets Note Group Company 2024 RM’000 2023 RM’000 2024 RM’000 2023 RM’000 Non-current 12.3 100,920 5,792 - - Current 12.3 163,103 41,228 - - 264,023 47,020 - - 12.1 Related party balances Loans to a subsidiary are unsecured, subject to interest ranging from 3.0% to 5.0% (2023: 3.0% to 5.0%) per annum and repayable from year 2025 to 2029. The current trade and non-trade balances due from subsidiaries and an associate are unsecured, interest free and are expected to be realised within twelve months after the end of the reporting period. Included in the current non-trade balances due from associates of the Group is a dividend receivable amounting RM297,773,000 (2023: Nil). 12.2 Other receivables During the previous financial year, included in other receivables of the Group are advances made to purchasing agents for the procurement of capital work-in-progress, spare parts and materials on behalf of the Group entities amounting to RM168,703,000. 12.3 Prepayment and other assets Included in current prepayment and other assets of the Group are prepaid expenses made to suppliers for the procurement of capital work-in-progress, spare parts, and materials on behalf of the Group entities amounting to RM106,457,000 (2023: Nil). The non-current prepayment and other assets of the Group includes prepaid expenses amounting to RM96,994,000 (2023: Nil) for the land acquisition and construction works of PT Kalimantan Alumina Nusantara.
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