XML 62 R52.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Loan Receivables (Tables)
6 Months Ended
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