ACCOUNTABILITY | FINANCIAL STATEMENTS 269 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 January 2024 25. OTHER ASSETS Group Company 2024 RM million 2023 RM million 2024 RM million 2023 RM million Current: Prepayments (Note (a)) 261 241 10 11 Contract cost assets (Note (b)) 4 497 - - 265 738 10 11 Non-current: Prepayments 18 20 - - Contract cost assets (Note (b)) 7 8 - - 25 28 - - 290 766 10 11 (a) Included in the Group’s current prepayments is an amount of RM79 million (2023: RM100 million) relating to prepayments to vendors for EPCIC business activities and RM47 million (2023: NIL) relating to purchase of capital spares. (b) As at 31 January 2023, the Group had recognised assets relating to a long-term charter contract which was secured during the previous financial year. The costs included the cost of an FPSO vessel amounting to RM263 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. The contract cost assets were reclassified from other assets to contract assets upon commencement of EPCIC business activities in the current financial year.
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