Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 103 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 5. REVENUE (CONT’D) The Group The Company 2023 2022 2023 2022 RM RM RM RM Revenue from Other Sources Dividend income from subsidiaries - - 64,895,945 26,890,468 Management fee from subsidiaries - - 30,000 49,800 - - 64,925,945 26,940,268 (a) The information on the disaggregation of revenue by geographical market is disclosed in Note 4 to the financial statements. (b) The information about the performance obligations in contracts with customers is summarised below: Provision of services Revenue from services is recognised at a point in time upon completion of the service and acceptance by the customer. The credit period range from 30 to 180 days from the invoice date. There is no significant financing component in the selling price as the sales are made on the normal credit terms not exceeding 12 months. Sale of goods Revenue from sale of goods is recognised at a point in time when goods have been transferred and accepted by customers, net of discount. There is no material right of return and warranty provided to the customers on the sale of goods. There is no significant financing component in the selling price as the sales are made on the normal credit terms not exceeding 12 months. (c) The information of the revenue from other sources is summarised below: Dividend income Dividend income is recognised when the right to receive dividend payment is established. Management fees Management fees are recognised in the period in which the services are rendered.
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