88 MSC BERHAD Notes to the Financial Statements (cont’d) 11. Inventories Group Company 2024 2023 2024 2023 RM RM RM RM Replacement parts 6,520 30,512 - 30,512 Recognised in profit or loss Inventories recognised as cost of sales 210,134 859,020 19,460 859,020 Inventories written off 23,992 - - - Material accounting policy information Inventories are measured at the lower of cost and net realisable value. The cost of inventories is determined based on a first-in-first-out basis. 12. Digital Assets Group and Company 2024 2023 RM RM Cryptocurrencies 25,972,529 - Digital assets are accounted for as intangible assets under the cost model. After initial recognition, an intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. The digital assets held by the Group and the Company appear to be no foreseeable limit to the period over which they could be exchanged with a willing counterparty for cash or other goods or services. As such, digital assets are not amortised. Indefinite useful life of digital assets is review for impairment annually. Digital assets are derecognised when the Group and the Company have transferred substantially all the risks and rewards of ownership on disposal. The differences between the net disposal proceeds, if any, and the net carrying amount recognised in profit or loss. 13. Trade Receivables Group Company 2024 2023 2024 2023 RM RM RM RM Trade receivables 4,169,063 2,841,150 - 2,663,049 Less: Accumulated impairment losses (51,153) (74,720) - (60,271) 4,117,910 2,766,430 - 2,602,778 Trade receivables are non-interest bearing and are generally on 30 days (2023: 30 days) term. They are recognised at their original invoice amounts which represent their fair values on initial recognition.
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