Financial Risk Management and Fair Values of Financial Instruments (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
Financial Risk Management and Fair Values of Financial Instruments [Abstract] |
|
Schedule of Breakdown of Trade Receivables Before Expected Credit Losses |
The following table provides a breakdown of trade receivables before
ECL by customer groups:
| |
As of December 31, 2023 | | |
As of December 31, 2024 | |
| |
MYR | | |
MYR | | |
USD | |
Third-party retail outlet customers | |
| 11,714 | | |
| 32,716 | | |
| 7,320 | |
Third-party industrial business customers | |
| 9,188,307 | | |
| 35,895,157 | | |
| 8,031,135 | |
Related party customers | |
| 6,041,691 | | |
| 1,132,841 | | |
| 253,461 | |
Total trade receivables, gross | |
| 15,241,712 | | |
| 37,060,714 | | |
| 8,291,916 | |
|
Schedule of Exposure to Credit Risk and Expected Credit Losses for Trade Receivables Related to Third-Party Retail Outlet Customers |
The following tables provide information about
the Group’s exposure to credit risk and ECL for trade receivables related to third-party retail outlet customers as of December
31, 2023 and 2024:
| |
As of December 31, 2023 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | |
0 - 90 days | |
| 3,177 | | |
| (146 | ) | |
| 4.6 | % | |
| 3,031 | |
91 - 180 days | |
| 3,213 | | |
| (1,964 | ) | |
| 61.1 | % | |
| 1,249 | |
181 - 270 days | |
| 280 | | |
| (276 | ) | |
| 98.6 | % | |
| 4 | |
271 - 365 days | |
| 5,044 | | |
| (5,044 | ) | |
| 100.0 | % | |
| – | |
| |
| 11,714 | | |
| (7,430 | ) | |
| | | |
| 4,284 | |
| |
As of December 31, 2024 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | | |
USD | |
0 - 90 days | |
| 28,372 | | |
| (2,433 | ) | |
| 8.6 | % | |
| 25,939 | | |
| 5,804 | |
91 – 180 days | |
| 747 | | |
| (453 | ) | |
| 60.6 | % | |
| 294 | | |
| 66 | |
181 - 270 days | |
| 1,114 | | |
| (918 | ) | |
| 82.4 | % | |
| 196 | | |
| 44 | |
271 - 365 days | |
| 1,146 | | |
| (1,146 | ) | |
| 100.0 | % | |
| – | | |
| – | |
Over 1 year | |
| 1,337 | | |
| (1,337 | ) | |
| 100.0 | % | |
| – | | |
| – | |
| |
| 32,716 | | |
| (6,287 | ) | |
| | | |
| 26,429 | | |
| 5,914 | |
|
Schedule of Exposure to Credit Risk and Expected Credit Losses Receivables from Related Parties |
The following tables provide information about
the Group’s exposure to credit risk and ECL for trade receivables related to third-party industrial business customers as of December
31, 2023 and 2024:
| |
As of December 31, 2023 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | |
Grade - low risk | |
| 2,034,059 | | |
| (2,034 | ) | |
| 0.1 | % | |
| 2,032,025 | |
Grade - fair risk | |
| 7,154,248 | | |
| (35,772 | ) | |
| 0.5 | % | |
| 7,118,476 | |
| |
| 9,188,307 | | |
| (37,806 | ) | |
| | | |
| 9,150,501 | |
| |
As of December 31, 2024 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | | |
USD | |
Grade - low risk | |
| 11,732,969 | | |
| (58,485 | ) | |
| 0.5 | % | |
| 11,674,484 | | |
| 2,612,034 | |
Grade - fair risk | |
| 24,162,188 | | |
| (266,260 | ) | |
| 1.1 | % | |
| 23,895,928 | | |
| 5,346,443 | |
| |
| 35,895,157 | | |
| (324,745 | ) | |
| | | |
| 35,570,412 | | |
| 7,958,477 | |
| |
As of December 31, 2023 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | |
Grade - low risk | |
| 4,551,351 | | |
| (22,757 | ) | |
| 0.5 | % | |
| 4,528,594 | |
Grade - fair risk | |
| 1,490,340 | | |
| (14,604 | ) | |
| 1.0 | % | |
| 1,475,736 | |
| |
| 6,041,691 | | |
| (37,361 | ) | |
| | | |
| 6,004,330 | |
| |
As of December 31, 2024 | |
| |
Gross carrying amount | | |
Loss allowance | | |
Expected loss rate | | |
Net balance | |
| |
MYR | | |
MYR | | |
| | |
MYR | | |
USD | |
Grade - low risk | |
| 100,000 | | |
| (500 | ) | |
| 0.5 | % | |
| 99,500 | | |
| 22,262 | |
Grade - fair risk | |
| 32,841 | | |
| (328 | ) | |
| 1.0 | % | |
| 32,513 | | |
| 7,275 | |
Grade - substantial | |
| 1,000,000 | | |
| (412,000 | ) | |
| 41.2 | % | |
| 588,000 | | |
| 131,559 | |
| |
| 1,132,841 | | |
| (412,828 | ) | |
| | | |
| 720,013 | | |
| 161,096 | |
|
Schedule of Movement of Expected Credit Losses |
| |
MYR | |
As of January 1, 2023 | |
| 15,682 | |
Provision for expected credit loss on trade receivables | |
| 66,915 | |
As of December 31, 2023 and January 1, 2024 | |
| 82,597 | |
Provision for expected credit loss on trade receivables | |
| 661,263 | |
As of December 31, 2024 | |
| 743,860 | |
As of December 31, 2024 (USD ) | |
| 166,430 | |
|
Schedule of Financial Liabilities Based on Contractual Undiscounted Cash Flows |
The following tables show the remaining contractual
maturities at the end of the years presented of the Group’s financial liabilities, which are based on contractual undiscounted cash
flows (including interest payments computed using contracted rates) and the earliest date the Group can be required to pay.
| |
Within 1 year or on demand | | |
More than 1 year but less than 2 years | | |
More than 2 years but less than 5 years | | |
More than 5 years | | |
Total | | |
Carrying amount as of December 31, 2023 | |
| |
MYR | | |
MYR | | |
MYR | | |
MYR | | |
MYR | | |
MYR | |
Trade payables | |
| 2,403,407 | | |
| – | | |
| – | | |
| – | | |
| 2,403,407 | | |
| 2,403,407 | |
Other payables | |
| 1,213,527 | | |
| – | | |
| – | | |
| – | | |
| 1,213,527 | | |
| 1,213,527 | |
Amounts due to related parties | |
| 2,068,306 | | |
| 1,372,087 | | |
| – | | |
| – | | |
| 3,440,393 | | |
| 3,404,046 | |
Bank borrowing | |
| 18,970 | | |
| 16,260 | | |
| 43,308 | | |
| – | | |
| 78,538 | | |
| 67,086 | |
Redeemable convertible preference shares | |
| 1,009,074 | | |
| 7,747,653 | | |
| – | | |
| – | | |
| 8,756,727 | | |
| 6,942,953 | |
Lease liabilities | |
| 485,136 | | |
| 485,136 | | |
| 1,686,256 | | |
| 261,768 | | |
| 2,918,296 | | |
| 2,217,028 | |
| |
| 7,198,420 | | |
| 9,621,136 | | |
| 1,729,564 | | |
| 261,768 | | |
| 18,810,888 | | |
| 16,248,047 | |
| |
Within 1 year or on demand | | |
More than 1 year but less than 2 years | | |
More than 2 years but less than 5 years | | |
More than 5 years | | |
Total | | |
Carrying amount as of December 31, 2024 | |
| |
MYR | | |
MYR | | |
MYR | | |
MYR | | |
MYR | | |
MYR | | |
USD | |
Trade payables | |
| 14,089,238 | | |
| – | | |
| – | | |
| – | | |
| 14,089,238 | | |
| 14,089,238 | | |
| 3,152,307 | |
Other payables | |
| 3,105,476 | | |
| – | | |
| – | | |
| – | | |
| 3,105,476 | | |
| 3,105,476 | | |
| 694,815 | |
Amounts due to related parties | |
| 4,010,937 | | |
| – | | |
| – | | |
| – | | |
| 4,010,937 | | |
| 4,001,850 | | |
| 895,370 | |
Bank borrowing | |
| 16,347 | | |
| 16,260 | | |
| 27,048 | | |
| – | | |
| 59,655 | | |
| 53,029 | | |
| 11,865 | |
Redeemable convertible preference shares | |
| 4,622,304 | | |
| 7,083,959 | | |
| – | | |
| – | | |
| 11,706,263 | | |
| 9,912,049 | | |
| 2,217,710 | |
Lease liabilities | |
| 629,136 | | |
| 689,248 | | |
| 1,805,975 | | |
| – | | |
| 3,124,359 | | |
| 2,493,310 | | |
| 557,850 | |
| |
| 26,473,438 | | |
| 7,789,467 | | |
| 1,833,023 | | |
| – | | |
| 36,095,928 | | |
| 33,654,952 | | |
| 7,529,917 | |
|