$" MATERIAL#ACCOUNTING#POLICY#INFORMATION#(CONT’D") +*) Basis!of!consolidation The!consolidated!financial!statements!comprise!the!financial!statements!of!the!Company!and!its!subsidiaries!as!at!reporting!date'! Control!is!achieved!when!the!Group!is!exposed&!or!has!rights&!to!variable!returns!from!its!involvement!with!the!investee!and!has!the! ability!to!a(ect!those!returns!through!its!power!over!the!investee' The!Group!re-assesses!whether!or!not!it!controls!an!investee!if!facts!and!circumstances!indicate!that!there!are!changes!to!one!or! more!of!the!three!elements!of!control' Profit!or!loss!and!each!component!of!other!comprehensive!income!(“OCI”)!are!attributed!to!the!owners!of!the!parent!of!the!Group! and!to!the!non-controlling!interests&!even!if!this!results!in!the!non-controlling!interests!having!a!deficit!balance'! When!the!Group!loses!control!over!a!subsidiary&!the!Group!would!derecognise!all!assets!(including!goodwill)&!liabilities!and!noncontrolling!interests!at!their!carrying!amount!of!the!subsidiary!and!to!recognise!the!fair!value!of!the!consideration!received' +*' Business!combinations!and!goodwill Business!combinations!are!accounted!for!using!the!acquisition!method!of!accounting'!The!cost!of!an!acquisition!is!measured!as!the! aggregate!of!the!consideration!transferred!measured!at!fair!value!at!the!acquisition!date!and!the!amount!of!any!non-controlling! interest!in!the!acquiree'! Goodwill!is!initially!measured!at!cost&!being!the!excess!of!the!aggregate!of!the!consideration!transferred!and!the!amount!recognised! for!non-controlling!interests&!and!any!previous!interest!held&!over!the!net!identifiable!assets!acquired!and!liabilities!assumed' After!initial!recognition&!goodwill!is!measured!at!cost!less!any!accumulated!impairment!losses' +*& Financial!instruments!-!initial!recognition!and!subsequent!measurement (a) Financial!assets Initial"recognition"and"measurement Financial!assets!are!classified&!at!initial!recognition&!as!subsequently!measured!at!amortised!cost!or!fair!value!through!profit!or! loss' The!Group’s!and!the!Company’s!financial!assets!at!amortised!cost!and!fair!value!through!profit!or!loss!are!disclosed!in!Note!+0' Financial"assets"at"fair"value"through"profit"or"loss" Financial!assets!at!fair!value!through!profit!or!loss!includes!investments!which!the!Group!had!not!irrevocably!elected!to!classify! at!fair!value!through!OCI' Impairment"of"financial"assets"!!!!!!!!!!!!!! The!Group!recognises!an!allowance!for!expected!credit!losses!(“ECLs”)!for!all!debt!instruments!not!held!at!fair!value!through! profit!or!loss'!ECLs!are!based!on!di(erence!between!the!contractual!cash!flows!due!in!accordance!with!the!contract!and!all! the!cash!flows!that!the!Group!expects!to!receive&!discounted!at!an!approximation!of!the!original!e(ective!interest!rate'!The! expected!cash!flows!will!include!cash!flows!from!the!sale!of!collateral!held!or!other!credit!enhancements!that!are!integral!to!the! contractual!terms'!!!!!!!!!!!!!!!!!!!!!! NOTES TO THE FINANCIAL STATEMENTS FOR!THE!FINANCIAL!YEAR!ENDED!'$!DECEMBER!"%"' 198 ANNUAL REPORT 2023
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