28. PROVISIONS Current liabilities Non-current liabilities Provision for onerous contracts Provision for warranty and defects Provision for reinstatement Provision for restoration costs Total $’000 $’000 $’000 $’000 $’000 Group 30 September 2025 Balance at beginning of financial year 5,503 1,703 1,900 512 9,618 Utilisation (4,328) – (1,900) (259) (6,487) Balance at end of financial year 1,175 1,703 – 253 3,131 30 September 2024 Balance at beginning of financial year 9,364 1,703 1,900 512 13,479 Utilisation (3,861) – – – (3,861) Balance at end of financial year 5,503 1,703 1,900 512 9,618 During the financial year ended 30 September 2025, the Group recognised $1,175,000 (2024: $5,503,000) provision for the unavoidable costs of fulfilling certain construction contract with customers, that were in excess of the economic benefits expected to be received under the contract. The provision for the onerous contracts is expected to be utilised by the end of the contract term. Provision for warranty and defects is recognised based on the claims experienced in the past and the level of repairs experienced and defaults for similar projects. A reversal of provision for warranty is made due to expiration of warranty period for completed project. The Group has undertaken to perform the necessary repairs should the work carried out by the Group fail to perform satisfactorily. A provision is recognised for expected restoration cost in relation to properties. The provision for restoration costs are the estimated costs of dismantlement, removal or restoration of property arising from the acquisition or use of assets, which are capitalised and included in the cost of property, plant and equipment. 29. DEFERRED TAX ASSETS/(LIABILITIES) Group 2025 2024 $’000 $’000 Deferred tax assets 28 28 Deferred tax liabilities (1) (1) Movements in deferred tax assets are as follows: Group 2025 2024 $’000 $’000 Balance at beginning and end of financial year 28 28 ANNUAL REPORT 2025 KEONG HONG HOLDINGS LIMITED 113 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
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