Chemical Company of Malaysia Berhad Annual Report 2019

18. Revenue (continued) 18.2Nature of goods and services The following information reflects the typical transactions of the Group: Nature of goods or services Timing of recognition or method used to recognise revenue Significant payment terms Variable element in consideration Obligation for returns or refunds Warranty Manufactured products and trading products Revenue is recognised when the goods are delivered and accepted by the customers at their premises. Credit period of 60 days from invoice date. Not applicable. Not applicable. Not applicable. | Notes to the Financial Statements (continued) | 176 CHEMICAL COMPANY OF MALAYSIA BERHAD