Revenue and Segment Information

12 Months Ended

Dec. 31, 2024

Revenue and Segment Information [Abstract]

Revenue and segment information

18. Revenue and segment information

Segment information

The Group’s primary business activities include offering farm solutions, as well as selling fresh produce cultivated from the CEA vertical farms. For management purposes, the Group operates in one business unit based on its products and has one reportable segment which is offering of farm solutions and selling fresh produce.

Since most of the Group’s revenue was generated from offering of farm solutions as well as selling fresh produce from the CEA vertical farms in Malaysia, no geographical segment information is presented.

Revenue

The Group’s revenue is primarily derived from offering CEA vertical farm solutions and selling fresh produce from CEA vertical farms operated.

(a) Disaggregation of revenue

The Group disaggregates its revenue from contracts by service types, as the Group believes it best depicts how the nature, amount, timing, and uncertainty of the revenue and cash flows are affected by economic factors. The summary of the Group’s disaggregation of revenue by service types for the year ended December 31, 2023 and 2024 are as follows:

		For the year ended December 31,
		2023				2024
		MYR				MYR				USD
Offering farm solutions
- from third parties			12,412,500				19,434,500				4,348,249
- from related parties			4,000,000				1,400,174				313,273
			16,412,500				20,834,674				4,661,522
Sales of fresh produce
- from third parties			585,553				19,993,366				4,473,289
- from related parties			1,473,219				32,842				7,348
			2,058,772				20,026,208				4,480,637

Total revenue			18,471,272				40,860,882				9,142,159

		For the year ended December 31,
		2023				2024
		MYR				MYR				USD
Timing of revenue recognition
- Point in time			18,371,272				37,460,882				8,381,448
- Over time			100,000				3,400,000				760,711
Revenue from contracts with customers			18,471,272				40,860,882				9,142,159

(b) Revenue expected to be recognized in the future arising from contracts with customers in existence at the reporting dates

There is no unsatisfied performance obligations as of December 31, 2023 and 2024.

As of December 31, 2023 and 2024, no contract liabilities were recognized.

(c) Revenue from major customers

		For the year ended December 31,
		2023				2024

Offering of farm solutions
Customer A			–	*			–	*
Customer B			34.7	%			–	*
Customer C**			21.7	%			–	*
Customer D			21.1	%			–	*
Customer E			10.8	%			–	*
Customer F			–	*			42.7	%

Sales of fresh produce
Customer G***			–	*			19.5	%
Customer H			–	*			–	*
Customer I			–	*			14.6	%
Customer J			–	*			14.0	%

*	The corresponding revenue did not contribute over 10.0% of the total revenue of the Group in the particular period.

**	Customer C is a related party of the Group.

***	Customer G was a related party of the Group during the year ended December 31, 2023. It ceased to be a related party of the Group in January 2024.