197 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD Registration No: 199301009307 (264044-M) 59 20. REVENUE Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Sales of goods 305,730 289,735 - - Golf related services 16,771 8,897 - - Rental income 2,930 2,243 - - Dividend income - - 19,198 16,905 Management fee income - - 9,002 6,114 325,431 300,875 28,200 23,019 Timing of revenue recognitions Goods/Services transferred at a point in time 325,431 300,875 19,198 16,905 Services transferred at over time - - 9,002 6,114 325,431 300,875 28,200 23,019 The following information represents the typical transactions of the Group and of the Company:- Sale of goods Revenue from sale of goods is recognised at a point in time when control of the asset is transferred to the customers generally on delivery of products and customers’ acceptance. Rendering of services Revenue is measured based on the consideration to which our Group expects to be entitled in exchange for transferring promised services to a customer, excluding amounts collected on behalf of third parties. Revenue is recognised when our Group satisfies a performance obligation by transferring a promised service. A performance obligation may be satisfied at a point in time. The amount of revenue recognised is the amount allocated to the satisfied performance obligation. Rental income Rental income is accounted for on a straight-line basis over the lease terms. The aggregate costs of incentives provided to lessees are recognised as a reduction of rental income over the lease term on a straight-line basis. Dividend income Dividend income is recognised when the Company’s right to receive payment is established.
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