NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 22. INTANGIBLE ASSETS (CONT’D.) In the previous financial year, an impairment loss of RM1,638,000 has been recognised in the profit or loss of the Group subsequent to the goodwill assessment exercise. (a) Key assumptions used in value-in-use calculations The recoverable amounts of the CGUs have been determined based on value-in-use calculations using cash flow projections based on financial budgets approved by management. The following describes each key assumption on which management has based its cash flow projections to undertake impairment testing of goodwill. (i) Budgeted gross margin The basis used to determine the value assigned to the budgeted gross margin is the average rate achieved in the financial year immediately before the budgeted year increased for expected efficiency improvements. (ii) Pre-tax discount rate The discount rates used are pre-tax ranging from 7% to 8% (2023: 7% to 8%) and reflect specific risks relating to the relevant segments. (b) Sensitivity to changes in assumptions With regard to the assessment of value-in-use of the CGUs, management believes that no reasonable possible change in any of the above key assumptions would cause the carrying amounts of the unit to materially differ from its recoverable amount. 23. TRADE AND OTHER RECEIVABLES Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Non-current Other receivables Security retainers accumulation fund (Note 23(b)(i)) 5,887 5,657 – – Deposits 110 110 – – Amount due from subsidiaries (Note 23(b)(ii)) – – 633,709 745,889 5,997 5,767 633,709 745,889 Current Trade receivables Third parties 219,795 162,961 – – Amounts due from subsidiaries – – 31,397 29,805 Amount due from a related party – 18,728 – – Less: Accumulated impairment losses (Note 23(a)) (6,715) (7,217) – – Trade receivables, net 213,080 174,472 31,397 29,805 ANNUAL REPORT 2024 302
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