42
MIGHT Directors’ Report And Audited Financial Statements 2020
17. REVENUE
GROUP
COMPANY
2019 RM
2019 RM
2020 RM
2020 RM
Revenue from contract with customers:
Transferred at a point in time Annual membership fees Technical, strategic advisory, consultancy and project management services
844,400 995,000
844,400
995,000
951,810 1,592,916 7,664,692 1,592,916 1,796,210 2,587,916 8,509,092 2,587,916
Revenue from other sources:
Dividend income
1,360,655 1,880,000 1,000,000 1,000,000 3,156,865 4,467,916 9,509,092 3,587,916
Total revenue
Annual membership fees
(a)
The membership fees is non-refundable and is recognised at point in time.
Services rendered - Technical strategic advisory, consultancy and project management services
(b)
Revenue from services rendered is recognised at a point in time when the services has been rendered to the customer and coincides with the delivery of services and acceptance by customers.
There is no right of return and warranty provided to the customers on services rendered.
There is no significant financing component in the revenue arising from services rendered as the services are made on the normal credit terms not exceeding twelve (12) months.
(c)
Dividend income
Dividend income is recognised when the right to receive payments is established.
18. SURPLUS/(DEFICIT) BEFORE TAX Other than those disclosed elsewhere in the financial statements, the surplus/(deficit) before tax is arrived at:
GROUP
COMPANY
2020 RM
2020 RM
2019 RM
2019 RM
NOTE
After charging:
Auditors’ remuneration: - statutory audit - under provision in prior year
80,300 15,000
73,000 5,000
44,000 15,000
44,000 -
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