16. CONTRACT ASSETS/(LIABILITIES) Group 2021 2020 Note RM’000 RM’000 Contract assets Non-current Property development contracts (b) 4,082 - Current Cost to obtain a contract 4,999 3,869 Property development contracts (b) 8,820 - Construction contracts (a) 4,127 3,972 17,946 7,841 Contract liabilities Deferred income (2,270) (2,360) Property development contracts (b) - (809) (2,270) (3,169) 19,758 4,672 (a) Contract assets from construction contracts Group 2021 2020 RM’000 RM’000 Contract assets At 1 January 3,972 1,810 Impairment of contract assets (3) (12) Revenue recognised during the year 4,072 4,476 Progress billings (3,914) (2,302) At 31 December 4,127 3,972 Additions to aggregate costs incurred during the financial year include: Group 2021 2020 RM’000 RM’000 Employee benefits 499 412 Hire of plant and machinery 227 217 726 629 NOTES TO THE FINANCIAL STATEMENTS P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 146 31 December 2021 (cont’d)
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