172 SECTION 05 : FINANCIAL STATEMENTS & OTHERS Notes To The Financial Statements (Cont’d) 31 March 2025 Registration No: 76 199201005296 (236800 - T) 21. REVENUE Group Company 2025 2024 2025 2024 RM’000 RM’000 RM’000 RM’000 Revenue from contracts with customers Sale of completed properties - 700 - 700 Property development revenue 5,811 3,883 - - Services rendered 933 11,911 - - 6,744 16,494 - 700 Revenue from leases Leasing 23,635 14,563 - - Revenue from continuing operations 30,379 31,057 - 700 Timing of revenue recognition Transferred over time 6,744 15,794 - - Transferred at a point in time - 700 - 700 6,744 16,494 - 700 (a) Revenue from contracts with customer is disaggregated in Note 29 to the financial statements by geographical area. (b) Sale of completed properties The Group recognises sales at a point in time for the sale of completed properties, when the control of the properties has been transferred to the purchasers, being when the properties have been completed and delivered to the customers and it is probable that the Group will collect the considerations to which it would be entitled to in exchange for the assets sold. There is no significant financing component in the revenue arising from sale of completed properties as the sales are made on the normal credit terms not exceeding twelve months. (c) Revenue from property development and construction contracts Contracts with customers include multiple promises to customers and therefore accounted for as separate performance obligations. In this case, the transaction price will be allocated to each performance obligation based on the stand-alone selling prices. When these are not directly observable, they are estimated based on expected cost plus margin. Revenue from property development and construction contracts is measured at the fixed transaction price agreed under the agreement.
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