97 www.excelforce.com.my Notes to the Financial Statements (cont’d) 23. Other Payables Group Company 2024 2023 2024 2023 Note RM RM RM RM Amount due to a related party (a) 33,200 30,807 - 30,807 Other payables 53,028 32,333 41,506 29,222 Accruals 1,504,194 1,103,927 522,613 1,056,017 Deposits received 78,340 78,340 - 78,340 Provision of loss claim (b) 1,000,000 1,600,000 - 1,600,000 Service tax payables 565,204 415,428 - 382,077 3,233,966 3,260,835 564,119 3,176,463 (a) Amount due to a related party Amount due to a related party is unsecured, non-trade related with non-interest bearing and repayable on demand. (b) Provision of loss claim Provision of loss claim represents potential loss claim compensation of RM1,000,000 (2023: RM1,600,000) to 1 customer (2023: 2 customers) for the disruption of services to the customers. Movements of provision of loss claim is as follow: Group Company 2024 2023 2024 2023 RM RM RM RM At 1 January/1 July 1,600,000 1,600,000 1,600,000 1,600,000 Transfer upon corporate reorganisation exercise - - (1,600,000) - Reversal of provision (600,000) - - - At 30 June 1,000,000 1,600,000 - 1,600,000 During the financial year, the Company has reversed provision amounted to RM600,000, following the reassessment of the obligation due to circumstances surrounding the loss claim have changed. It has been determined that the outflow of economic resources is no longer probable in accordance to MFRS 137 Provisions, Contingent Liabilities and Contingent Assets. (c) Material accounting policy information Provisions are recognised when there is a present legal or constructive obligation as a result of a past event, when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount of the obligation can be estimated reliably. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic resources will be required to settle the obligation, the provision is reversed.
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