| RIGHT-OF-USE ASSET/LEASE LIABILITY |
8.
RIGHT-OF-USE ASSET/LEASE LIABILITY
Office space
| | |
December 31, 2025 | | |
June 30, 2025 | |
| | |
RM | | |
RM | |
| Right-of-use asset | |
| | |
| |
| Cost | |
| | |
| |
| | |
| | |
| |
| As of July 1 | |
| 503,272 | | |
| 503,272 | |
| Addition during the period/year | |
| 251,348 | | |
| - | |
| As of December 31/ June 30 | |
| 754,620 | | |
| 503,272 | |
| | |
| | | |
| | |
| Accumulated depreciation | |
| | | |
| | |
| | |
| | | |
| | |
| As of July 1 | |
| (492,890 | ) | |
| (368,318 | ) |
| Charge for the period/year | |
| (62,745 | ) | |
| (124,572 | ) |
| As of December 31/ June 30 | |
| (555,635 | ) | |
| (492,890 | ) |
| | |
| | | |
| | |
| Net carrying amount | |
| 198,985 | | |
| 10,382 | |
| | |
December 31, 2025 | | |
June 30, 2025 | |
| | |
RM | | |
RM | |
| Lease liability | |
| | |
| |
| | |
| | |
| |
| As of 1 July | |
| 10,954 | | |
| 138,899 | |
| Addition during the period/year | |
| 251,348 | | |
| - | |
| Interest charged | |
| 4,633 | | |
| 4,055 | |
| | |
| 266,935 | | |
| 142,954 | |
| Payment of: | |
| | | |
| | |
| - principal | |
| (61,367 | ) | |
| (127,945 | ) |
| - interest | |
| (4,633 | ) | |
| (4,055 | ) |
| | |
| (66,000 | ) | |
| (132,000 | ) |
| | |
| | | |
| | |
| Net carrying amount | |
| 200,935 | | |
| 10,954 | |
| | |
| | | |
| | |
| At the end of the period/year | |
| | | |
| | |
| | |
| | | |
| | |
| Represented by: | |
| | | |
| | |
| Lease liability - current | |
| 75,261 | | |
| 10,954 | |
| Lease liability - non-current | |
| 125,674 | | |
| - | |
| | |
| 200,935 | | |
| 10,954 | |
| (a) | The Group leases an office space in the location which it operates. The lease of the office space comprised fixed payment over the lease term. The six months ended December 31, 2025’s lease liability interest charged is RM 4,633 (December 31, 2024: RM 2,828) and the payment of principal and interest are RM 66,000 (December 31, 2024: RM 66,000). |
| |
(b) |
The right of use asset is initially measured at
cost, which comprises 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 a lease term of twelve (12) months or less, and low value leases of office equipment of USD 5,000 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: |
| | |
December 31, 2025 | | |
December 31, 2024 | |
| | |
RM | | |
RM | |
| | |
| | |
| |
| Administrative expenses: | |
| | |
| |
| - depreciation of right of use asset | |
| 62,745 | | |
| 62,286 | |
| - expense relating to short-term leases | |
| - | | |
| 732,659 | |
| - expense relating to leases of low-value assets | |
| - | | |
| 2,650 | |
| | |
| | | |
| | |
| Finance costs: | |
| | | |
| | |
| - interest expense on lease liability | |
| 4,633 | | |
| 2,828 | |
| | (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 | |
| December 31, 2025 | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| |
| Lease liability | |
| 4.76 | | |
| 132,000 | | |
| 77,000 | | |
| 209,000 | |
| | |
| | | |
| | | |
| | | |
| | |
| June 30, 2025 | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| Lease liability | |
| 5.02 | | |
| 11,000 | | |
| | | |
| 11,000 | |
| |
(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.
During the financial period, the group has entered into a short-term lease agreement of a period of twenty- four (24) months. 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: |
| | |
December 31,
2025 | | |
June 30,
2025 | |
| | |
RM | | |
RM | |
| | |
| | |
| |
| As of July 1 | |
| 10,954 | | |
| 138,899 | |
| | |
| | | |
| | |
| Addition of lease | |
| 251,348 | | |
| - | |
| | |
| | | |
| | |
| Cash flows | |
| (66,000 | ) | |
| (132,000 | ) |
| | |
| | | |
| | |
| Interest expense of lease liability | |
| 4,633 | | |
| 4,055 | |
| | |
| | | |
| | |
| As of December 31/June 30 | |
| 200,935 | | |
| 10,954 | |
The payment of lease liability included in
financing activities and interest of lease liability included in operating activities of the statement of cash flows were RM 66,000
and RM 2,828, respectively, for the six months ended December 31, 2024.
|