Yinson Annual Report 2020

211 Annual Report 2020 2. Summary of significant accounting policies (continued) 2.7 Revenue from contracts with customers (continued) (i) Offshore maintenance support and rendering of services The Group provides separate services to FPSO charterers including vessel management, repair and maintenance, crewing and operators, provisions, insurance, logistic support during the on-hire period. Revenue from offshore maintenance support and rendering of services are identified as a 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. The Group recognises revenue from offshore maintenance 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. The credit terms to customers is generally for a period of 30 days. (ii) Human resource services Revenue from provision of human resource services is recognised upon delivery of services to customers. The credit terms to customers is 30 days from the date of invoice. (iii) Management fees Management fees are recognised in the period in which the services are rendered. (iv) Transportation services Transportation revenue from the provision of chauffeur services are recognised in the period in which the services are rendered. 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) Chartering of FPSOs, OSVs and tankers Revenue from FPSO, OSV and tanker 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. Dividend income from financial assets at FVTPL is recognised as part of net gains or net losses on these financial instruments when the right to receive payment is established.