UEM EDGENTA BERHAD ANNUAL REPORT 2021 1 2 3 4 5 6 7 221 220 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS FINANCIAL STATEMENTS 2. SIGNIFICANT ACCOUNTING POLICIES (CONTD.) 2.5 Significant accounting judgements and estimates (contd.) (b) Key sources of estimation uncertainty (contd.) (v) Income taxes Significant estimation is involved in determining the provision for income taxes. There are certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognises liabilities for expected tax issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recognised, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. (vi) Deferred tax assets Deferred tax assets are recognised for all unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgment is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and level of future taxable profits together with future tax planning strategies. The deferred tax assets amounting to RM8.1 million (2020: RM9.0 million) are mainly related to subsidiaries of which management is confident that it would be probable for the related subsidiaries to generate future taxable profits. If the Group was able to recognise all unrecognised deferred tax assets, profit and equity would have increased by RM56.5 million (2020: RM43.1 million). Further details are disclosed in Note 29. 3. REVENUE Group Company 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Revenue from contracts with customers (a) Asset consultancy 82,475 88,141 - - Healthcare support 1,432,534 1,233,408 - - Infrastructure services 594,405 549,055 - - Property and facility solutions 162,974 149,150 - - Others 20,034 8,962 - - Management fees - - 82,458 79,428 2,292,422 2,028,716 82,458 79,428 Revenue from other sources Dividend income from subsidiaries - - 107,448 8,267 Total revenue 2,292,422 2,028,716 189,906 87,695 (a) Revenue from contracts with customers are recognised: - At a point in time 72,856 45,255 - - - Over time 2,219,566 1,983,461 82,458 79,428 2,292,422 2,028,716 82,458 79,428 The transaction price allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at 31 December 2021 due within one year is RM1.5 billion (2020: RM1.6 billion) and due more than one year is RM5.6 billion (2020: RM6.9 billion). These relate to performance obligations from long term service contracts that is to be satisfied within 1 to 17 years (2020: within 1 to 18 years). 4. COST OF SALES Group 2021 RM’000 2020 RM’000 Asset consultancy 77,202 70,688 Healthcare support 1,252,307 1,040,724 Infrastructure services 500,326 456,119 Property and facility solutions 138,817 130,679 Property development: - completed property held for sale (Note 19) 11,810 56,826 - other costs 1,626 977 1,982,088 1,756,013
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