loans where the interest rate is below the market rate of interest. The differential between the initial carrying value of the loan based on market rate and the Government rate is recognised as a deferred income and is credited to the statement of profit or loss over the period necessary to match the interest costs. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 276 27 GOVERNMENT DEVELOPMENT GRANTS (CONTINUED) Reconciliation of government development grants from financing activities during the financial year is as follows: Group 2023 RM’million 2022 RM’million As at the beginning of the financial year 875.4 948.4 Received during the financial year: - Cash 13.3 3.3 - Assets 124.9 31.2 Released to statement of profit or loss: - Other operatingincome (Note 35) (72.5) (63.4) - Finance cost (Note 37(b)) (18.3) (24.8) - Gain on restructuring 0 (19.3) As at the end of the financial year 922.8 875.4 The government development grants are provided by the Government mainly for the construction of PPE of RM777.9 million (2022: RM715.4 million) and the Government loan below market interest rate is RM124.0 million (2022: RM142.4 million). 28 OTHER LIABILITIES Note Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Retention monies (a) 742.1 687.1 738.6 711.2 Provision for restoration costs (b) 498.2 426.6 0 0 Contingent considerations (c) 39.1 22.2 0 0 Others (d) 69.3 18.2 25.8 2.8 1,348.7 1,154.1 764.4 714.0 (a) Retention monies primarily relate to the vendor retention monies for projects with completion period of more than 12 months. (b) Provision for restoration cost for certain assets for which there is an obligation to dismantle, remove and restore the sites at the end of their useful lives, discounted at the range of 2.0% to 4.1% (2022: 3.9% to 4.0%). The movements in provision for restoration costs during the financial year are as follows: 2023 RM’million 2022 RM’million Group As at the beginning of the financial year 426.6 301.8