Serba Dinamik Annual Report 2018

246 ANNUAL REPORT 2018 SERBA DINAMIK HOLDINGS BERHAD N O T E S T O T H E F I N A N C I A L S TAT E M E N T 19. Revenue and cost of contracts with customers (continued) 19.3 Transaction price allocated to the remaining performance obligations The following table shows revenue from performance obligations that are unfulfilled (or partially unfulfilled) at the reporting date. The disclosure is only providing information for contracts that have a duration of more than one year. Group 2019 2020 2021 Total RM’000 RM’000 RM’000 RM’000 EPCC 348,524 503,134 291,646 1,143,304 ========= ========= ========= ========= 19.4 Significant judgements and assumptions arising from revenue recognition The Group applied the following judgements and assumptions that significantly affect the determination of the amount and timing of revenue recognised. For construction contracts, the Group measured the performance of construction work done by comparing the actual costs incurred with the estimated total costs required to complete the construction. Significant judgements are required to estimate the total contract costs to complete. In making these estimates, management relied on professionals’ estimates and also on past experience of completed projects. A change in the estimates will directly affect the revenue to be recognised.