NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 30 COST OF SALES Group 2022 2021 RM’000 RM’000 Contract costs 1,731,945 716,308 Cost of goods sold 541,971 533,834 Direct operating costs relating to rental income 1,025 10,576 2,274,941 1,260,718 31 OTHER LOSSES - NET Group 2022 2021 RM’000 RM’000 Fair value losses arising from fair value changes of: - Derivative financial instruments - forward currency contracts 2,144 2,595 - Investment in equity instruments - 2 2,144 2,597 32 PROFIT FROM OPERATIONS Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Profit from operations is stated after charging: Raw materials consumed 929,764 467,417 - - Subcontracting cost 233,709 96,187 - - Cost of trading goods and services 307,882 320,084 - - Staff costs (Note 40) 396,089 271,514 9,369 7,055 Auditors’ remuneration: Fees for statutory audits - PricewaterhouseCoopers PLT 1,079 962 93 83 - member firms of PricewaterhouseCoopers International Limited 1,082 595 - - - others 752 614 - - Fees for non-audit services - PricewaterhouseCoopers PLT* 392 650 13 12 - member firms of PricewaterhouseCoopers International Limited 1,548 264 - - Depreciation charge of - property, plant and equipment 41,783 38,170 156 114 - right-of-use assets 28,555 27,967 - - * Included in fees for non-audit services are fees payable to PricewaterhouseCoopers PLT and its local affiliates for the Group and the Company of RM392,000 (2021: RM650,000) and RM13,000 (2021: RM12,000) respectively. Wah Seong Corporation Berhad Annual Report 2022 182
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