Ntegrator International Ltd. - Annual Report 2020

74 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2020 4. Revenue (a) Disaggregation of revenue from contracts with customers The Group derives revenue from the transfer of goods and services over time and at a point in time in the following major product line. Group At a point in time Over time Total S$’000 S$’000 S$’000 2020 Project sales 7,186 - 7,186 Project management 13,746 - 13,746 Maintenance services - 2,170 2,170 20,932 2,170 23,102 2019 Project sales 6,178 - 6,178 Project management 21,722 - 21,722 Maintenance services - 2,340 2,340 27,900 2,340 30,240 (b) Contract assets and liabilities Group 2020 2019 S$’000 S$’000 Contract assets - Maintenance services (Note 12) 157 112 Contract liabilities - Maintenance services (Note 17) 162 325 Contract assets represent the Group’s cost incurred to-date in relation to the maintenance contracts. Contract liabilities represent the Group’s collection in advance but work has yet to be completed. Management expects that the contract liabilities as at 31 December 2020 and 2019 may be recognised as revenue in the next reporting periods as follows: Group 2020 2021 2022 Total $’000 $’000 $’000 $’000 Contract liabilities as at: 31 December 2020 - 158 4 162 31 December 2019 319 4 2 325 (c) Assets recognised from costs to fulfil contracts Group 2020 2019 S$’000 S$’000 Other current assets (Note 12) 1,778 1,657 Other current assets represent the direct costs incurred to fulfil contracts for project sales and project management which has yet to be completed as at 31 December 2020.