167 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD 4. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (CONT’D) Material accounting policy information (a) Lease and non-lease components At inception or on reassessment of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease and non-lease component on the basis of their relative stand-alone prices. However, for leases of properties in which the Group is a lessee, it has elected not to separate non-lease components and will instead account for the lease and non-lease components as a single lease component. (b) Recognition exemption The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The Group recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sublease separately. It assesses the lease classification of a sublease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sublease as an operating lease. 5. INTANGIBLE ASSETS Goodwill Total RM’000 RM’000 Group Cost At 1 January 2023/31 December 2023/31 December 2024 1,417 1,417 The aggregate carrying amounts of goodwill allocated to each unit are as follows:- 2024 2023 RM’000 RM’000 Specialty retailer and wholesaler of golf equipment under MST Golf Sdn. Bhd. 1,378 1,378 Golf related services including golf event management and golf academy under MST Golf Management Sdn. Bhd. 39 39 1,417 1,417
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