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Trade and Other Receivables (Tables)
6 Months Ended
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