KUB Malaysia Berhad Annual Report 2021

24. TRADE AND OTHER RECEIVABLES AND CONTRACT ASSETS (cont’d) (c) Contract assets Group 30.6.2021 31.12.2019 RM’000 RM’000 As at 1 January (641) 1,827 Revenue recognised during the period/year (Note 5) 13,553 6,495 Progress billing during the period/year (8,534) (9,057) Allowance for impairment during the period/year (111) - Reversal of impairment during the period/year - 94 As at 30 June/31 December 4,267 (641) Analyse as: Contract assets 4,884 340 Contract liabilities (617) (981) Net contract assets/(liabilities) 4,267 (641) Included in additions to aggregate costs incurred to-date are the following amounts charged during the period: 30.6.2021 31.12.2019 RM’000 RM’000 Interest capitalised 13 - Staff costs 1,463 1,271 Rental 64 - Movement in the allowance for impairment losses of contract assets are as follows: 30.6.2021 31.12.2019 RM’000 RM’000 As at 1 January 531 1,283 Charged for the period/year (Note 9) 111 - Reversal during the period/year (Note 9) - (94) Write off during the period/year (522) (658) As at 30 June/31 December 120 531 Construction contracts revenue and costs are disclosed in Note 5 and Note 6 respectively. 25. CASH AND BANK BALANCES Group Company 30.6.2021 31.12.2019 30.6.2021 31.12.2019 RM’000 RM’000 RM’000 RM’000 Cash and bank balances 24,225 25,875 1,962 3,187 Deposits with licensed banks 398,883 119,752 306,307 44,732 423,108 145,627 308,269 47,919 Included in cash at banks of the Group is an amount of RM6,849 (31.12.2019: RM6,776) held pursuant to Section 7A of the Housing Development (Control and Licensing) Act, 1966 which is restricted from use in other operations. Included in deposits with licensed banks of the Group is an amount of RM26,130,000 (31.12.2019: RM32,018,000) which has been pledged as security for borrowings of the Group as disclosed in Note 27. 115 ANNUAL REPORT 2021 FINANCIAL STATEMENTS