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Trade and Other Receivables (Tables) | 6 Months Ended
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Jun. 30, 2024
Trade and Other Receivables [Abstract] |
Schedule of Trade and Other Receivables |
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
Trade receivables |  |  |  |  |  |  |  |  |
- Third parties |  |  | 11,310,279 |  |  |  | 27,995,076 |  |  |  | 5,934,681 |
- Related parties |  |  | 2,499,319 |  |  |  | 5,531,955 |  |  |  | 1,172,720 |
|  |  | 13,809,598 |  |  |  | 33,527,031 |  |  |  | 7,107,401 |
Less: Allowance for expected credit losses on trade receivables |  |  | (2,518,122 | ) |  |  | - |  |  |  | - |
|  |  | 11,291,476 |  |  |  | 33,527,031 |  |  |  | 7,107,401 |
Deposits |  |  | 4,122,755 |  |  |  | 4,518,326 |  |  |  | 957,841 |
Prepayments |  |  | 466,629 |  |  |  | 84,991,054 |  |  |  | 18,017,267 |
Other receivables |  |  | 13,068,732 |  |  |  | 18,977,576 |  |  |  | 4,023,059 |
|  |  | 28,949,592 |  |  |  | 142,013,987 |  |  |  | 30,105,568 |
Movement in allowance for expected credit losses on trade receivables as follows: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balances |  |  | 1,757,638 |  |  |  | 2,518,122 |  |  |  | 533,817 |
Additional |  |  | 756,973 |  |  |  | - |  |  |  | - |
Bad debt written off |  |  | - |  |  |  | (2,518,122 | ) |  |  | (533,817 | )
Currency realignment |  |  | 3,511 |  |  |  | - |  |  |  | - |
Ending balance |  |  | 2,518,122 |  |  |  | - |  |  |  | - |
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
Not past due |  |  | 5,961,854 |  |  |  | 18,960,617 |  |  |  | 4,019,465 |
Past due |  |  | 7,847,744 |  |  |  | 14,566,414 |  |  |  | 3,087,936 |
Less: Allowance for expected credit losses |  |  | (2,518,122 | ) |  |  | - |  |  |  | - |
|  |  | 11,291,476 |  |  |  | 33,527,031 |  |  |  | 7,107,401 |
Schedule of Aging of Receivables that are Past Due the Average Credit Period | Aging of receivables that are past due the average credit period:
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RM |  |  | RM |  |  | USD |
< 30 days |  |  | 790,489 |  |  |  | 6,410,714 |  |  |  | 1,359,008 |
31 days to 60 days |  |  | 4,240 |  |  |  | 5,591,402 |  |  |  | 1,185,322 |
61 days to 210 days |  |  | 5,015,219 |  |  |  | - |  |  |  | - |
211 days to 240 days |  |  | - |  |  |  | 738,728 |  |  |  | 156,603 |
241 days to < 1 year |  |  | 2,037,796 |  |  |  | 1,825,570 |  |  |  | 387,003 |
Total |  |  | 7,847,744 |  |  |  | 14,566,414 |  |  |  | 3,087,936 |
Schedule of Provision Matrix Trade Receivables | The following table details the risk profile of trade receivables based on the Group’s provision matrix.
|  | Trade 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 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 480,326 |  |  |  | - |  |  |  | 2,037,796 |  |  |  | 2,518,122 |
Lifetime ECL – June 30, 2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Schedule of Trade and Other Receivables not Denominated in the Functional Currency | The above balances that are not denominated in the functional currency are as follows:
|  | December 31, 2023 |  |  | June 30, 2024 |
|  |  | RM |  |  |  | RM |
United States dollar |  |  | 5,743,323 |  |  |  | 22,947,168 |

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