NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 23. TRADE AND OTHER RECEIVABLES (CONT’D.) (b) Other receivables (cont’d.) (vi) Accumulated impairment losses Movements as follows: Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 At 1 January 20,992 20,865 8,859 8,859 Charge for the financial year 2,739 723 – – Reversal for the financial year (2,925) (279) – – Write off – (317) – – At 31 December 20,806 20,992 8,859 8,859 24. CONTRACT ASSETS Group 2024 2023 RM’000 RM’000 Accrued billings in respect of sales of development properties 401,534 546,656 Amounts due from contract customers (Note 24(a)) 1,003 733 Total contract assets 402,537 547,389 (a) Amounts due from contract customers Group 2024 2023 RM’000 RM’000 Aggregate cost incurred to date 42,703 38,784 Attributable profits 10,394 9,376 53,097 48,160 Less: Progress billings (52,094) (47,427) Amounts due from contract customers 1,003 733 ANNUAL REPORT 2024 306
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