115 www.excelforce.com.my Notes to the Financial Statements (cont’d) 36. Financial Instruments (cont’d) (c) Financial risk management objectives and policies (cont’d) (i) Credit risk (Cont’d) Credit risk concentration As at the end of financial year, the Group and the Company have 2 customers (2023: 3 customers) and Nil (2023: 3 customers) that accounted for approximately 49% (2023: 56%) and Nil (2023: 59%) of all receivables outstanding. (ii) Liquidity risk Liquidity risk refers to the risk that the Group or the Company will encounter difficulty in meeting its financial obligations as they fall due. The Group’s and the Company’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. The Group’s and the Company’s funding requirements and liquidity risk are managed with the objective of meeting business obligations on a timely basis. The Group finances its liquidity through internally generated cash flows and minimises liquidity risk by keeping committed credit lines available.
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