33. TRADE AND OTHER PAYABLES (CONT’D.) (c) Provisions The movements in provisions are as follows: Provision Provision for for development forseeable cost (i) losses (ii) Total RM’000 RM’000 RM’000 Group At 1 January 2022 114,130 62,776 176,906 Provision during the financial year 36,923 4,091 41,014 Reversal of provision during the financial year (43,700) (313) (44,013) Utilised during the financial year (22,663) – (22,663) At 31 December 2022 84,690 66,554 151,244 At 1 January 2021 97,083 44,824 141,907 Provision during the financial year 41,082 18,808 59,890 Reversal of provision during the financial year (21,771) (856) (22,627) Utilised during the financial year (2,264) – (2,264) At 31 December 2021 114,130 62,776 176,906 (i) Provision for development costs Provision for development costs is in respect of development projects undertaken by its subsidiaries as they had a present obligation as a result of a past event and it was probable that an outflow of resources embodying economic benefits will be required to settle the obligation. (ii) Provision for foreseeable losses Provision for foreseeable losses represents the present obligation for losses expected to be incurred for construction contracts. 261 FINANCIAL STATEMENTS & OTHER INFORMATION
RkJQdWJsaXNoZXIy NDgzMzc=