Yinson Annual Report 2019

125 Yinson Group Overview Strategy and Sustainability Governance Accountability Annual General Meeting 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 2.7 Revenue from contracts with customers (continued) (i) Offshore maintenance support and rendering of services Incertainarrangement,theGroupprovidesseparateservicestovesselchartererincludingvesselmanagement, repair and maintenance, crewing and operators, provisions, insurance, logistic support during the on-hire period. Revenue from maintenance support and rendering of services are identified as single performance obligation as the contracts comprise multiple deliverables that include a series of distinct goods or services that are substantially the same and have the same pattern of transfer to the customer. TheGroup recognises revenue fromoffshoremaintenance support and rendering of services over time, using an input method, measuring the inputs put in relative to the total expected inputs needed to transfer the promised services to the customer. Revenue is recognised on a straight-line basis as the inputs are expended evenly throughout the period. Credit term to customer is generally for a period of 30 days. (ii) Human resource services Revenue from provision of human resource services is recognised upon delivery of service to customer. Credit term to customer is 30 days from the date of invoice. (iii) Management fee Management fees are recognised in the period in which the services are rendered. (iv) Transportation services Transportation revenue from the provision of chauffeur service are recognised upon monthly services performed. The credit term is for a period of 30 days. 2.8 Revenue from other sources The Group recognises revenue from other sources as follows: (i) Vessel chartering Revenue fromvessel chartering contracts classified as operating leases are recognised on a straight-line basis over the lease period for which the customer has contractual right over the vessel. (ii) Dividend income Dividends are received from financial assets measured at FVTPL and at FVOCI (2018: financial assets at FVTPL and AFS financial assets). Dividend income from financial assets at FVTPL is recognised as part of net gains or net losses on these financial instruments. Dividend income from financial assets at FVOCI (2018: AFS) are recognised as other income in profit or loss when the right to receive payment is established. This applies even if they are paid out of pre-acquisition profits. Accounting policies applied from 1 February 2018 From 1 February 2018 onward, dividends that clearly represents a recovery of part of the cost of an investment is recognised in OCI if it relates to an investment in equity instruments measured at FVOCI.