Notes To The Financial Statements 31 March 2024 (Cont’d) 153 FINANCIAL STATEMENTS & OTHERS 21. OTHER BORROWINGS (CONT'D) (a) The other borrowings of the Group and of the Company relate to trade and working capital credit facilities that are secured by: (i) Mezzanine loan is secured by corporate guarantees from a subsidiary of the Company; (ii) Bridging loan is secured by corporate guarantees from the Company and pledge of surplus monies in the Housing Development Account (HDA) as disclosed in Note 13(d) to the financial statements; and (iii) Revolving credits are secured by pledge of fixed deposits as disclosed in Note 13(c) to the financial statements and pledge of inventory as disclosed in Note 9(e) to the financial statements. (b) Financial guarantee contracts issued are initially measured at fair value. Subsequently, they are measured at higher of: (i) the amount of the loss allowance; and (ii) the amount initially recognised less, when appropriate, the cumulative amount of income recognised in accordance to the principles of MFRS 15, Revenue from Contracts with Customers. (c) Information on financial risks of other borrowings and their remaining maturities is disclosed in Note 33 to the financial statements. 22. REVENUE Group Company 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Revenue from contracts with customers Sale of completed properties 700 160 700 - Property development revenue 3,883 5,452 - - Services rendered 11,911 10,926 - - 16,494 16,538 700 - Revenue from leases Leasing 14,563 13,941 - - Revenue from continued operations 31,057 30,479 700 - 31,057 30,479 700 - Timing of revenue recognition Transferred over time 15,794 11,878 - - Transferred at a point in time 700 4,660 700 - 16,494 16,538 700 -
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