Registration No. 200301030845 (633265-K) - 100 - 14. Contract Assets/(Liabilities) (Cont’d) The significant changes in the contract assets and contract liabilities during the financial year/period relate to changes in the measure of progress of performance obligations under contracts for supply of goods and services. Service contracts Contract assets represent the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional. A contract liability is recognised when the Group bills in advance to customers for supply of goods or services and subsequently released to revenue recognised when the corresponding stage of completion is achieved. 30.6.2025 30.6.2024 RM RM Contract liabilities At 1 July 2024/1 January 2023 8,205,942 1,763,996 (8,205,942) (1,763,996) 14,448,341 8,205,942 At 30 June 2025/2024 14,448,341 8,205,942 Revenue recognised that was included in the contract liability balance at the beginning of the year/period Increases due to cash received, excluding amounts recognised as revenue during the year/period Group As of the reporting date, revenue expected to be recognised in the future relating to performance obligations that are unsatisfied (or partially unsatisfied) is RM14,448,341 (30.6.2024: RM8,205,942). DESTINI BERHAD ANNUAL REPORT 2025 183
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