Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 28 GROSS REVENUE (CONTINUED) Revenue from contracts with customers is represented by: Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 (Represented) Timing of revenue recognition - Over time 2,156,460 2,050,130 3,973 6,819 - At a point in time 427,922 311,430 - - 2,584,382 2,361,560 3,973 6,819 29 COST OF SALES Group 2023 2022 RM’000 RM’000 (Represented) Contract costs 1,857,055 1,731,945 Cost of goods sold 291,653 244,133 Direct operating costs relating to rental income 11,140 1,025 2,159,848 1,977,103 30 OTHER LOSSES - NET Group 2023 2022 RM’000 RM’000 (Represented) Fair value losses arising from fair value changes of: - Derivative financial instruments - forward currency contracts 1,374 2,422 255 Wasco Berhad
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