SECTION 4: FINANCIAL PERFORMANCE 172 Registration No: 199301009307 (264044-M) 34 2. BASIS OF PREPARATION (CONT’D) 2.6 Significant accounting estimates and judgements (cont’d) 2.6.1 Estimation uncertainties (cont’d) Information about significant judgements, estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses are discussed below. (cont’d) Revenue recognition - Estimating stand-alone selling price – Points loyalty programme (cont’d) As points issued under the programme with the validity period of up to 1 to 2 years, estimates of the stand-alone selling price are subject to significant uncertainty. Any significant changes in customers’ redemption patterns will impact the estimated redemption rate. As at 31 December 2023, the estimated liability for unredeemed points was RM3,669,000 (2022: RM3,462,000). If the estimated redemption rate used had been higher by 1% than management’s estimate, the carrying amount of the estimated liability for unredeemed points as at 31 December 2023 would have been higher by RM82,000 (2022: RM66,000). 2.6.2 Significant management judgement There are no significant judgments applied by the management in the accounting policies of the Group and of the Company that have a significant effect on the financial statements.
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