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Loan Receivables (Tables) | 6 Months Ended
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Jun. 30, 2024
Loan Receivables [Abstract] |
Schedule of Loan Receivables |
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
Personal loans |  |  | 2,912,547 |  |  |  | 3,482,771 |  |  |  | 738,313 |
Term loans |  |  | 43,339,398 |  |  |  | 40,241,358 |  |  |  | 8,530,772 |
Loans to related parties |  |  | 2,819,450 |  |  |  | 20,112,762 |  |  |  | 4,263,708 |
|  |  | 49,071,395 |  |  |  | 63,836,891 |  |  |  | 13,532,793 |
Less: Unearned interest |  |  | (12,222,634 | ) |  |  | (417,883 | ) |  |  | (88,587 | )
|  |  | 36,848,761 |  |  |  | 63,419,008 |  |  |  | 13,444,206 |
Less: Allowance for expected credit losses on loan receivables |  |  | (272,225 | ) |  |  | (640,684 | ) |  |  | (135,819 | )
|  |  | 36,576,536 |  |  |  | 62,778,324 |  |  |  | 13,308,387 |
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
Current asset |  |  | 15,378,236 |  |  |  | 23,538,832 |  |  |  | 4,990,001 |
Non-current asset |  |  | 21,198,300 |  |  |  | 39,239,492 |  |  |  | 8,318,386 |
|  |  | 36,576,536 |  |  |  | 62,778,324 |  |  |  | 13,308,387 |
Schedule of Outstanding Balances | The average credit period for services rendered is 30 (2023: 30) days. No interest is charged on the outstanding balances.
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
Not past due |  |  | 47,476,339 |  |  |  | 62,149,303 |  |  |  | 13,175,041 |
Past due |  |  | 1,595,056 |  |  |  | 1,687,588 |  |  |  | 357,752 |
|  |  | 49,071,395 |  |  |  | 63,836,891 |  |  |  | 13,532,793 |
Less: Allowance for expected credit losses on loan receivables |  |  | (272,225 | ) |  |  | (640,684 | ) |  |  | (135,819 | )
|  |  | 48,799,170 |  |  |  | 63,196,207 |  |  |  | 26,929,767 |
Schedule of Aging of Loan Receivables | Aging of loan receivables that are past due the average credit period:
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
< 30 days |  |  | 1,482,120 |  |  |  | 816,739 |  |  |  | 173,141 |
31 days to 60 days |  |  | 103,416 |  |  |  | 108,247 |  |  |  | 22,947 |
61 days to 210 days |  |  | 9,520 |  |  |  | 762,602 |  |  |  | 161,664 |
211 days to 240 days |  |  | - |  |  |  | - |  |  |  | - |
241 days to < 1 year |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 1,595,056 |  |  |  | 1,687,588 |  |  |  | 357,752 |
Schedule of Risk Profile of Loan Receivables Based on the Group’s Provision Matrix | As the Group’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished between the Group’s different customer base:
|  | Loan receivables – days past due |
|  | Not past due |  |  | 1 to 30 days |  |  | 31-60 days |  |  | 61-210 days |  |  | 211 – 240 days |  |  | Over 241 days |  |  | Total |
|  | RM |  |  | RM |  |  | RM |  |  | RM |  |  | RM |  |  | RM |  |  | RM |
Lifetime ECL – December 31, 2023 |  |  | 237,382 |  |  |  | 31,125 |  |  |  | 3,102 |  |  |  | 616 |  |  |  | - |  |  |  | - |  |  |  | 272,225 |
Lifetime ECL – June 30, 2024 |  |  | 548,129 |  |  |  | 47,460 |  |  |  | 6,349 |  |  |  | 38,746 |  |  |  | - |  |  |  | - |  |  |  | 640,684 |

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