Yinson Annual Report 2021

236 YINSON HOLDINGS BERHAD SECTION 07 : ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 6. Revenue (continued) (b) Assets related to contracts with customers (continued) (i) Significant changes in contract assets Contract assets have increased as the Group has commenced EPCIC business activities in the current financial year. (ii) Unsatisfied long-term EPCIC contracts The following table shows unsatisfied performance obligations resulting from long-term EPCIC contracts: Group 2021 2020 RM million RM million Aggregate amount of the transaction price allocated to long-term EPCIC contracts that are partially or fully unsatisfied as at 31 January 3,091 - Management expects that 72% of the transaction price allocated to the unsatisfied performance obligations (RM2,213 million) as of 31 January 2021 may be recognised as revenue during the next reporting period as the Group continues to perform to complete the EPCIC of the FPSO vessel. The remaining 28% (RM878 million) may be recognised in the financial year ending 31 January 2023. The Group will recognise the unsatisfied performance obligation over this period in line with the work performed. 7. Cost of sales Group 2021 2020 RM million RM million Included in cost of sales are: Amortisation of unfavourable contracts (Note 34) - (5) Amortisation of intangible assets (Note 18) 49 8 Depreciation of property, plant and equipment 226 223 Employee benefits expenses (Note 10) 3 1 EPCIC sub-contractor costs 2,008 - Costs relating to outright sales of FPSO at commencement of finance lease 984 1,544 Vessel operating expenses 159 79