259 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 ACCOUNTABILITY (FINANCIAL STATEMENTS) 25. Other assets Group Company 2023 RM million 2022 RM million 2023 RM million 2022 RM million Current: Prepayments (Note (a)) 241 78 11 5 Contract cost assets (Note (b)) 497 - - - 738 78 11 5 Non-current: Prepayments 20 - - - Contract cost assets (Note (b)) 8 240 - - 28 240 - - 766 318 11 5 (a) Included in the Group’s current prepayments is an amount of RM100 million (2022: RM18 million) relating to prepayments to vendors for EPCIC business activities. (b) As at 31 January 2023, the Group has recognised assets relating to a long-term charter contract which was secured during the financial year. The costs include the cost of an FPSO vessel amounting to RM263 million (2022: RM114 million) and engineering and manpower costs that are directly attributable to the long-term charter contract which generate resources that will be used in satisfying the future performance obligations of the contract and are expected to be recovered. 26. Cash and bank balances Group Company 2023 RM million 2022 RM million 2023 RM million 2022 RM million Cash on hand and at banks 1,383 2,598 119 213 Deposits with licensed banks 124 261 2 122 Cash and bank balances 1,507 2,859 121 335 For the purpose of the statements of cash flows, cash and cash equivalents at the reporting dates comprised the following: Group Company 2023 RM million 2022 RM million Restated 2023 RM million 2022 RM million Cash and bank balances 1,507 2,859 121 335 Less: Fixed deposits with maturity period over 3 months * (85) (84) - (2) Cash and cash equivalents 1,422 2,775 121 333 * Deposit placed with the licensed bank that was restricted based on the requirements of a lender.
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