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Right-of-Use Asset/Lease Liability

12 Months Ended

Jun. 30, 2024

Right-of-Use Asset/Lease Liability [Abstract]

9. RIGHT-OF-USE ASSET/LEASE LIABILITY

Office space

	June 30, 2024			June 30, 2023			June 30, 2022
	RM			RM			RM

Right-of-use asset
Cost

As at July 1		503,272			222,984			-
Additions		-			280,288			222,984
As at June 30		503,272			503,272			222,984

Accumulated depreciation

As at July 1		(243,746	)		(116,801	)		-
Charge for the year		(124,572	)		(126,945	)		(116,801	)
As at June 30		(368,318	)		(243,746	)		(116,801	)

Net carrying amount		134,954			259,526			106,183

	June 30, 2024			June 30, 2023			June 30, 2022
	RM			RM			RM

Lease liability

As at July 1		260,592			108,069			-
Additions		-			280,288			222,984
Interest charged		10,307			4,235			6,085
		270,899			392,592			229,069
Payment of:
- principal		(121,693	)		(127,765	)		(114,915	)
- interest		(10,307	)		(4,235	)		(6,085	)
		(132,000	)		(132,000	)		(121,000	)
Net carrying amount		138,899			260,592			108,069

	June 30, 2024		June 30, 2023		June 30, 2022
	RM		RM		RM
At the end of the year

Represented by:
Current liabilities		127,945		121,693		108,069
Non-current liabilities		10,954		138,899		-
		138,899		260,592		108,069

(a)

The Group lease an office space in the location which it operates. The lease of the office space comprised fixed payment over the lease term.

(b)

The right of use asset is initially measured at cost, which comprise the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date of the lease. After initial recognition, right of use asset is stated at cost less accumulated depreciation and any accumulated impairment losses, and adjusted for any re-measurement of the lease liability.

The right of use asset is depreciated on the straight-line basis over the earlier of the estimated useful lives of the right of use asset or the end of the lease term. The lease terms for office space are two (2) years.

(c)

The Group has certain leases of premises and equipment with lease term of twelve (12) months or less, and low value leases of office equipment of RM 20,000 and below. The Group applies the “short-term lease” and “lease of low-value-assets” exemptions for these leases.

(d)

The following are the amounts recognized in profit or loss:

	June 30, 2024		June 30, 2023		June 30, 2022
	RM		RM		RM
Administrative expenses:
- depreciation of right of use asset		124,572		126,945		116,801
- expense relating to short-term leases		81,756		96,000		104,774
- expense relating to leases of low-value assets		6,360		6,095		4,770

Finance costs:
- interest expense on lease liability		10,307		4,235		6,085

(e)

The table below summarizes the maturity profile of the lease liability as at the end of the reporting period based on contractual undiscounted repayment obligations as follows:

	Weighted average incremental borrowing rate		Within one year		One to five years		Total
	%		RM		RM		RM
June 30, 2024

Lease liability		3.88-5.02		132,000		11,000		143,000

June 30, 2023

Lease liability		3.88-5.02		132,000		143,000		275,000

June 30, 2022

Lease liability		3.88		110,000		-		110,000

(f)

The Group leases several assets that include extension and termination options. These are used to maximise operational flexibility in terms of managing the assets used in the Group’s operations. Management determines whether these extension and termination options are reasonably certain to be executed.

As at June 30, 2024, there are no undiscounted potential future rental payments that are not included in the lease term.

(g)

For the purpose of the statements of cash flows, the reconciliation of liability arising from financing activities as follows:

	June 30, 2024			June 30, 2023			June 30, 2022
	RM			RM			RM

Cash flows		(132,000	)		(132,000	)		(121,000	)

Non-cash flows
- additions		-			280,288			222,984
- accretion of interest		10,307			4,235			6,085
At the end of the year		(121,693	)		152,523			108,069