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2.
Significant accounting policies (continued)
2.4 Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined
terms of payments, net of applicable tax, rebates and discounts, and after eliminating sales within the Group. Revenue is
recognised as follows:
(a)
Base rent, amenities income, fit-out rental income
Base rent, amenities income and fit-out rental income, net of incentives granted are recognised in profit or loss on a
straight-line basis and over the term of the lease.
Base rent comprises rental income earned from the leasing of the owned built-up area of the properties.
Amenities income is rental revenue earned from the space utilised as amenities such as canteen and business centre.
Fit-out rental income is rental revenue earned from the fit-out provisions for the tenants at the properties. Fit-out
rents typically arise from the additional costs related to tenant-specific fit-out requirements, which are in turn passed
through to those tenants via fit-out provisions in their lease agreements.
(b)
Operations, maintenance and utilities income
Operations, maintenance and utilities income is recognised when the services are rendered. Operations and maintenance
income is revenue earned from the operation and maintenance of the properties.
(c)
Car park and other income
Car park income includes revenue earned from the operations of the parking facilities, which is recognised when the
services are rendered.
Other income includes miscellaneous income earned from the properties such as kiosks and advertising revenue,
which is recognised when the services are rendered.
(d)
Interest income
Interest income, including income arising from other financial instruments, is recognised using the effective interest
rate method.
