v3.25.2
Prepayments, Deposits and Other Receivables
12 Months Ended
Dec. 31, 2024
Prepayments, Deposits and Other Receivables [Abstract]  
Prepayments, deposits and other receivables

9. Prepayments, deposits and other receivables

 

   As of
December 31,
2023
   As of
December 31,
2024
 
   MYR   MYR   USD 
Non–current:            
Prepayments for intangible assets               
– to a related party (note (a))   1,423,354    5,517,306    1,234,435 
– to a third party (note (b))   1,071,032    1,406,508    314,690 
    2,494,386    6,923,814    1,549,125 
Deposits   202,012    277,843    62,165 
Subtotal   2,696,398    7,201,657    1,611,290 
                
Current:               
Prepayments (note (c))   1,492,195    
    
 
Other receivables   30,915    30,915    6,917 
Subtotal   1,523,110    30,915    6,917 
                
Total prepayments, deposits and other receivables (note (d))   4,219,508    7,232,572    1,618,207 

 

Notes:

 

  (a) As of December 31, 2024, the Group has prepaid MYR 5,517,306 (USD 1,234,435) for the development of comprehensive Robotics AI Platform designed to facilitate the creation, deployment, and management of intelligent robotic systems to Braiven Co., Ltd., who is a related party (note 22). As of December 31, 2023, the Group has prepaid MYR 1,423,354 for certain purchase contracts of IT software such as Internet of Things (IoT) management platform, video management platform and data visualization platform to a related party.
(b) As of December 31, 2024, the Group has prepaid MYR 1,406,508 (USD 314,690) (2023: MYR 1,071,032) for certain purchase contracts of IT software such as E-commerce website design, system integration platform and Enterprise Resource Planning (ERP) system to a third party.

 

(c) As of December 31, 2023, included in prepayments mainly represented IPO related professional fee amounted to approximately MYR 1,492,195 where relevant services not yet rendered as of respective period end. The amount was recognized as deferred offering costs and general and administrative expenses respectively during the year ended December 31, 2024.

 

(d) Save as prepayments for intangible assets and deposits for property leases and office equipment, all prepayments and other receivables are expected to be recovered/consumed within one year.