Notes to the Financial Statements for the Financial Year Ended 30 September 2024 MKH BERHAD ANNUAL REPORT 2024 Laying The Foundation of Excellence Where People Matter Guided by Leadership, Inspired by People Delivering Value That Matters to People PG. 202 4. REVENUE (CONT’D) Group revenue excludes intra-group transactions. The Group The Company 2024 2023 2024 2023 RM RM RM RM Timing of revenue recognition Point in time 461,968,003 473,775,128 - - Over time 566,469,922 560,676,888 - - 1,028,437,925 1,034,452,016 - - Rental income from investment properties is generated from retail properties, an international school and a factory, with remaining non-cancellable lease period ranging from 1 year to 15 years (2023: 1 year to 16 years) under operating lease arrangement. 5. COST OF SALES The Group 2024 2023 RM RM Attributable property development costs 442,731,400 436,453,114 Attributable cost of completed development properties sold 9,699,067 19,085,079 Overprovision of property development costs for completed projects (8,479,167) (5,656,181) Attributable construction contract costs - 5,884,053 Cost of land held for property development - 172,583 Direct operating expenses from investment properties generating rental income 13,496,056 12,160,035 Cost of goods sold 85,703,365 100,153,666 Cost of non-current assets classified as held for sale - 345,812 Cost of sales of crude palm oil and palm kernel 217,307,018 247,449,664 Cost of services 4,103,081 995,847 Recognition of provision for foreseeable loss 942,025 2,080,070 765,502,845 819,123,742 During the financial year, total contract cost recognised by the Group as cost of sales in profit or loss amounting to RM18,531,279 (2023: RM19,783,677).
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