7 185 184 Notes to the Financial Statements Notes to the Financial Statements 22. REVENUE (CONTINUED) Sale of goods Revenue from sale of goods is recognised when the goods are delivered and accepted by the customers at their premises or recognised when the control of the goods have transferred to the customer. Generally, payment terms for revenue from customers range from 7 days to 90 days (2022: 30 days to 90 days) from invoice date or cash term. There were no warranties given to the customers, nor any variable element in the consideration except for customers who purchase the goods using the customer loyalty programme are entitled to earn loyalty points that are redeemable against future purchases and will be recognised as revenue when the points are redeemed by the customers, which is expected to occur over a year. The Group allocates a portion of the consideration received to the loyalty points. The consideration allocated to the points issued is estimated by reference to the monetary value attributable to the redemption points and are based on the best estimate of future redemption profile. This amount is deferred and included in contract liabilities. Construction contracts Revenue from construction services is recognised over time using the input method, determined based on proportion of construction costs incurred for work performed to-date over the estimated total construction costs. Generally, payment terms for revenue from customers is 30 days from invoice date. Transaction price is computed based on the price specified in the contract. Past experience is used to estimate and provide for the variable consideration, using most likely method and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. The Group is required to fulfil warranty obligation over a defect liability period of ranging from 3 months to 5 years (2022: 3 months to 5 years) from the date of completion. The following table shows revenue from performance obligation that are unsatisfied (or partially unsatisfied) at the reporting date: Group 2023 RM’000 2022 RM’000 Within 1 year 238,653 168,031 More than 1 year 82,636 83,318 321,289 251,349 The amounts disclose does not include any variable consideration which are constrained. There was no performance obligation that are unsatisfied in the previous financial year ended. 23. RESULTS FROM OPERATING ACTIVITIES Note Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Results from operating activities is arrived at after charging: Auditors’ remuneration: - Audit fees KPMG in Malaysia - current year 1,866 1,676 158 142 - prior years - 29 - - Overseas affiliates of KPMG in Malaysia 305 276 - - Other auditors 580 462 - - - Non-audit fees KPMG in Malaysia 129 108 30 30 Overseas affiliates of KPMG in Malaysia 113 107 - - Material expenses: Amortisation of intangible assets 6 2,058 1,563 - - Amortisation of investment properties 5 2,953 3,888 - - Bad debts written off - 26 - - Depreciation of property, plant and equipment 3 203,187 190,420 - 10 Depreciation of right-of-use assets 4 38,319 34,150 - - Impairment loss: - contract assets 41 134 - - - intangible assets 1,211 - - - - property, plant and equipment 11,738 14 - - - subsidiary - - 1,432 - - advances to suppliers 125 - - - - trade and other receivables 6,009 5,104 4,225 981 Inventories write-down 460 1,110 - - Loss on change in fair value of biological assets, net 11 19,220 - - - Loss on foreign exchange, net: - realised 6,504 - - - - unrealised 3,504 - - - Personnel expenses (including key management personnel): - contributions to state plans 33,453 30,030 - - - expenses related to defined benefit plans 3,072 646 - - - wages, salaries and others 534,596 434,730 1,370 1,277 Property, plant and equipment written off 2,866 1,999 - -
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