later than 4 years 0.1 0.4 19.9 15.0 Receivable later than 4 years and not later than 5 years 0.0 0.4 18.4 14.9 Receivable more than 5 years 0.5 2.5 47.1 51.9 30.2 28.4 270.6 176.9 42 CONTINGENT LIABILITIES AND MATERIAL LITIGATIONS Accounting Policy The Group and the Company do not recognise contingent assets and liabilities other than those arising from business combinations, but disclose its existence in the financial statements. A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Group and of the Company or a present obligation that is not recognised because it is not probable that an outflow of resources willbe required to settle the obligation. A contingent liability also arises in the extremely rare case where there is a liability that cannot be recognised because it cannot be measured reliably. However, contingent liabilities do not include financial guarantee contracts. A contingent asset is a possible asset that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Group and of the Company. The Group and the Company do not recognise contingent assets but disclose its existence where inflows of economic benefits are probable, but not certain. Determination of the treatment of contingent liabilities is based on the Group’s and the Company’s view of the expected outcome of the contingencies after consulting legal counsel for litigation cases and internal and external experts to the Group and the Company for matters in the ordinary course of business. Contingent liabilities Group Company 2023 RM’million 2022 RM’million 2023 RM’million 2022 RM’million Claims by third parties: - Contractors 82.1 154.7 82.1 154.7 - Customers 14.5 13.9 14.5 13.9 - Others 185.7 173.7 21.2 9.2 282.3 342.3 117.8 177.8 Trade guarantees and performance bonds 0 51.0 0 0