v3.25.2
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