Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 333 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 22. TRADE AND OTHER RECEIVABLES (CONTD.) (b) Other receivables (contd.) Other receivables that are impaired At the reporting date, the Group and the Company have provided an allowance of RM2.8 million (2022: RM3.0 million) and RM11.8 million (2022: RM12.7 million) respectively. (c) Concession receivable This is in relation to a concession arrangement in which the Group provides retro-fitting works and upgrades of infrastructure to turn existing buildings into green buildings. These amounts are to be repaid over the remaining period of the concession. These amounts are also pledged as security for the borrowing obtained for this concession as disclosed in Note 35(a). 23. CONTRACT RELATED ASSETS AND LIABILITIES Group 2023 RM’000 2022 RM’000 Contract assets (a) Non-current 32,136 73,109 Current 441,306 357,174 473,442 430,283 Contract liabilities (a) Current (31,916) (30,777) Contract fulfillment asset (b) Non-current - 547 Current 590 2,230 590 2,777 (a) Contract assets and liabilities Contract assets are initially recognised for revenue earned from services transferred which receipt of the consideration is conditional on the completion and final acceptance by customers. Upon final acceptance by the customers, the amounts recognised as contract assets becomes unconditional and are reclassified to trade receivables.
RkJQdWJsaXNoZXIy NDgzMzc=