177 ANNUAL REPORT 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 2 MATERIAL ACCOUNTING POLICY INFORMATION (CONT’D) 2.7 Investment properties held for divestment Investment properties that are expected to be recovered primarily through disposal rather than through continued use are classified as investment properties held for divestment and classified as current assets. These investment properties are measured at fair value and any increase or decrease on fair value is credited or charged directly to the consolidated statement of profit or loss as a net change in fair value of investment properties held for divestment. Upon disposal, the resulting gain or loss recognised in the consolidated statement of profit or loss is the difference between net disposal proceeds and the carrying amount of the property. 2.8 Provisions Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. 2.9 Revenue recognition Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognises revenue when control of the promised services is transferred to the customer. The Group has generally concluded that it is the principal in its revenue arrangements and records revenue on a gross basis because it typically controls the promised services before transferring them to the customer. Rental income Rental income arising from operating leases on investment property is accounted for on a straight-line basis over the lease term and is included in revenue in profit or loss due to its operating nature. The difference between revenue recognised and the contractual cash received is included in the carrying value of the investment property and subsequently adjusted to fair value change in investment properties recognised in profit or loss. Recoveries income Reimbursements from tenants are recognised as recoveries income in the period in which the services are fulfilled.
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