192 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 52 FINANCIAL INSTRUMENTS (CONTINUED) Financial instruments by category (continued) Company Amortised cost 2023 RM’000 2022 RM’000 Assets as per statement of financial position Receivables (excluding prepayments) 11,747 7,328 Amount due from ultimate holding company 542 874 Amounts due from subsidiaries 57,842 460,148 Amounts due from other related companies 1,537 1,407 Loans due from subsidiaries 490,308 207,011 Deposits, cash and bank balances 111,176 68,667 Total 673,152 745,435 Company Other financial liabilities at amortised cost 2023 RM’000 2022 RM’000 Liabilities as per statement of financial position Payables 51,862 68,508 Amounts due to subsidiaries 8,824 6,690 Amounts due to other related companies 97 79 Loans due to ultimate holding company - 333,316 Loans due to subsidiaries 973,764 811,034 Borrowings 897,344 497,374 Lease liabilities 19,627 24,077 Total 1,951,518 1,741,078 53 SIGNIFICANT RELATED PARTY TRANSACTIONS In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant related party transactions and balances. Federal Land Development Authority (“FELDA”), the Group and Company’s ultimate holding company, is a statutory body corporate set up under the Land Development Act 1956, and controlled by the Malaysian Government. The Group considers that, for the purpose of MFRS 124 – “Related Party Disclosures”, the Malaysian Government is in the position to exercise significant influence over it. As a result, the Malaysian Government and Malaysian Government controlled bodies (collectively referred to as “government-related entities”) are related parties of the Group and the Company.
RkJQdWJsaXNoZXIy NDgzMzc=