EXCEL FORCE MSC BERHAD 99 Notes to the Financial Statements (Cont’d) 24. Contract Liabilities Group Company 30.6.2023 31.12.2021 1.1.2021 30.6.2023 31.12.2021 1.1.2021 RM RM RM RM RM RM Deferred revenue 3,641,999 2,574,966 1,625,834 2,808,748 1,816,228 824,018 Deferred revenue represents advance consideration received (or an amount of consideration is due) from the customer in respect of services which are yet to be provided. The deferred revenue will be recognised as revenue when the related services is rendered. Significant changes to contract liabilities balances during the financial period are as follows: 30.6.2023 31.12.2021 1.1.2021 RM RM RM Contract liabilities at the beginning of the reporting period recognised as revenue Group 2,264,763 1,470,290 1,281,564 Company 1,514,237 629,058 498,042 25. Revenue Group Company 1.1.2022 to 30.6.2023 1.1.2021 to 31.12.2021 1.1.2022 to 30.6.2023 1.1.2021 to 31.12.2021 RM RM RM RM (Restated) Revenue from contracts with customers: Sales of hardware 986,300 1,897,870 986,300 1,897,870 Rendering of services 38,553,881 33,251,488 36,018,600 31,764,166 Maintenance services 3,839,869 2,139,744 3,713,404 2,057,407 43,380,050 37,289,102 40,718,304 35,719,443 Timing of revenue recognition: At a point in time 1,459,112 1,989,301 1,354,192 1,911,846 Over time 41,920,938 35,299,801 39,364,112 33,807,597 Total revenue from contracts with customers 43,380,050 37,289,102 40,718,304 35,719,443
RkJQdWJsaXNoZXIy NDgzMzc=