$" MATERIAL#ACCOUNTING#POLICY#INFORMATION#(CONT’D") +*#" Non-current!assets!classified!as!held!for!sale The!Group!classifies!non-current!assets!and!disposal!groups!as!held!for!sale!if!their!carrying!amounts!will!be!recovered!principally! through!a!sale!transaction!rather!than!through!continuing!use'!Non-current!assets!classified!as!held!for!sale!are!measured!at!the! lower!of!their!carrying!amount!and!fair!value!less!costs!to!sell' Property&!plant!and!equipment!and!intangible!assets!are!not!depreciated!or!amortised!once!classified!as!held!for!sale'! +*## Contract!assets!and!contract!liabilities A!contract!asset!is!the!right!to!consideration!in!exchange!for!goods!or!services!transferred!to!the!customer'!If!the!Group!performs! by!transferring!goods!or!services!to!a!customer!before!the!customer!pays!consideration!or!before!payment!is!due&!a!contract!asset! is!recognised!for!the!earned!consideration!that!is!conditional'!In!the!case!of!property!development!and!construction!contracts&! contract!asset!is!the!excess!of!cumulative!revenue!earned!over!the!billings!to!date'!A!contract!asset!is!stated!at!cost!less!accumulated! impairment'!Contract!assets!are!subject!to!impairment!in!accordance!of!MFRS!-!Financial!Instruments'! A!contract!liability!is!the!obligation!to!transfer!goods!and!services!to!a!customer!for!which!the!Group!has!received!consideration!(or! an!amount!of!consideration!is!due)!from!the!customer'!In!the!case!of!property!development!and!construction!contracts&!contract! liability!is!the!excess!of!the!billings!to!date!over!the!cumulative!revenue!earned'!Contract!liabilities!are!recognised!as!revenue!when! the!Group!performs!its!obligation!under!the!contracts' +*#+ Contract!cost!assets (a) Incremental!costs!of!obtaining!a!contract The!incremental!costs!of!obtaining!a!contract!with!customers!of!the!Group!mainly!relate!to!commission!payable!on!sales!of! properties' (b) Costs!to!fulfill!a!contract The!costs!incurred!to!fulfil!contracts!with!customers!of!the!Group!mainly!comprise!of!costs!incurred!for!the!development!and! construction!of!its!property!development!projects' Contract!cost!assets!are!amortised!on!a!systematic!basis!that!is!consistent!with!the!transfer!to!the!customer!of!the!goods!or!services! to!which!the!asset!relates' +*#$ Intangible!assets Intangible!assets!acquired!separately!are!measured!on!initial!recognition!at!cost'!Following!initial!recognition&!intangible!assets!are! carried!at!cost!less!any!accumulated!amortisation!and!accumulated!impairment!losses' The!useful!lives!of!intangible!assets!are!assessed!as!either!finite!or!indefinite'! Intangible!assets!with!finite!lives!are!amortised!on!a!straight-line!basis!over!the!estimated!useful!lives!of!the!assets!as!follows) - Software)!/!years - Timber!rights)!/#!years 201 FINANCIAL STATEMENTS & OTHER INFORMATION
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