185 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD 22. REVENUE Group Company 2024 2023 2024 2023 RM ‘000 RM ‘000 RM ‘000 RM ‘000 Sales of goods 307,275 305,730 - - Golf related services 17,088 16,771 - - Rental income 3,412 2,930 - - Dividend income - - 7,000 19,198 Management fee income - - 8,080 9,002 327,775 325,431 15,080 28,200 Timing of revenue recognitions 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Goods/Services transferred at a point in time 327,775 325,431 7,000 19,198 Services transferred at over time - - 8,080 9,002 327,775 325,431 15,080 28,200 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. Management fee income Management fees are recognised when the services are rendered.
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