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Revenue

12 Months Ended

Jun. 30, 2024

16. REVENUE

	For the year ended
	June 30, 2024		June 30, 2023		June 30, 2022
	RM		RM		RM

Revenue from contracts with customers
Project management fees		25,470,000		33,485,000		6,850,000
Sale of goods		32,716,647		208,647,250		417,451,408
Rendering of information technology system		-		-		18,722,595
		58,186,647		242,132,250		443,024,003

Timing of revenue recognition
Transferred at a point in time		58,186,647		242,132,250		443,024,003

(a)

Project management and rendering of information technology system

Revenue from project management fees and rendering of information technology system are recognised at a point in time when control of the goods is passed to the customer, which is point in time when the significant risks and rewards are transferred to the customer and the transaction has met the probability of inflows and measurement reliability requirements of IFRS 15.

(b)

Sale of goods

The Group is engaged in supply and install customised IoT software or hardware. The majority of the sale of goods contracts are supply and install customised a set of IoT Smart Agriculture solution and customised source codes and reseller of mobile gadget and the relevant accessories.

Revenue from sale of goods is recognised at a point in time when the Group satisfies a performance obligation by transferring a promised good (i.e. an asset) to a customer. An asset is transferred as and when a customer obtains control of that asset which coincides with the delivery of goods and acceptance by the customer.

There is no material right of return and warranty provided to the customers on the sale of goods and there is no significant financing component in the revenue arising from sale of goods as the sales are made on the normal credit terms not exceeding twelve months.

(c)

Dividend income

Dividend income is recognized when the right to receive dividend payment is established.