Yinson Annual Report 2022

267 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 6. Revenue (continued) (a) Disaggregation of revenue from contracts with customers (continued) Company 2022 2021 RM million RM million Management fee income 13 23 The Company recognises revenue from contracts with customers over time. (b) Assets related to contracts with customers The Group has recognised the following assets related to contracts with customers: Group 2022 2021 RM million RM million Non-current contract assets (Note 6(b)(i)) 4,517 2,206 Contract assets primarily relate to the Group’s right to consideration for work completed but not yet billed at reporting date on an ongoing EPCIC contract which commenced in the current financial year. Bareboat charter payments received during the lease period will be allocated towards the settlement of the contract assets related to the EPCIC contract. (i) Significant changes in contract assets Contract assets have increased in line with the progress of work performed for 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 2022 2021 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 856 3,091 Management expects that 100%of the transaction price allocated to the unsatisfied performance obligations RM856 million as of 31 January 2022 may be recognised as revenue during the next reporting year as the Group continues to perform to complete the EPCIC of the FPSO vessel. The Group will recognise the unsatisfied performance obligation over this period in line with the work performed.

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