200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 4. Revenue (a) 2021 2020 RM RM Types of goods and services Construction contracts 503,981,530 623,797,432 Sales of building material 487,457 500,138 Sales of completed properties 43,251,737 2,305,568 Sales of concrete products 141,615,653 168,097,889 Sales of development properties 1,742,262 - 691,078,639 794,701,027 505,723,792 623,797,432 185,354,847 170,903,595 691,078,639 794,701,027 (b) 2021 2020 RM RM 500,592,031 444,193,341 175,223,675 374,719,171 (24,147,420) (36,314,938) 2021 2020 RM RM 1,083,073,000 954,127,702 711,077,039 204,173,282 1,794,150,039 1,158,300,984 Group Group Group Contract assets and contract liabilities Information about receivables, contract assets and contract liabilities from contracts with customers is disclosed as follows: (Note 21) Contract assets Contract liabilities Receivables from contracts with customers Contract assets primarily relate to the Group's right to consideration for work completed but not yet billed at the reporting date. Contract assets are transferred to receivables when the rights become unconditional. Contract liabilities primarily relate to the Group's billings in advance at the reporting date. Contract liabilities are reversed and revenue is recognised as work is completed. The remaining performance obligations (unsatisfied or partially unsatisfied) as at 31 December 2021 and 2020 are, as follows: Within one year More than one year Revenue from contracts with customers Timing of revenue recognition Transferred over time Transferred at a point in time - 53 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 K imlun Corporat ion Berhad Regi s t rat ion No. 200901023978 (867077-X) 113
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