$" MATERIAL#ACCOUNTING#POLICY#INFORMATION#(CONT’D") +*#, Investments!in!an!associate!and!joint!ventures The!Group’s!investments!in!its!associate!and!joint!ventures!are!accounted!for!using!the!equity!method'! U nder!the!equity!method&!the!investment!in!an!associate!or!a!joint!venture!is!initially!recognised!at!cost'!The!carrying!amount!of!the! investment!is!adjusted!to!recognise!changes!in!the!Group’s!share!of!net!assets!of!the!associate!or!joint!venture!since!the!acquisition!date' Unrealised!gains!and!losses!resulting!from!transactions!between!the!Group!and!the!associate!or!joint!venture!are!eliminated!to!the! extent!of!the!interest!in!the!associate!or!joint!venture'!The!Group!recognises!the!excess!of!the!unrealised!profit!over!the!carrying! amount!of!the!associate!as!deferred!income' In! the! Company’s! separate! financial! statements&! investments! in! an! associate! and! joint! ventures! are! accounted! for! at! cost! less! impairment!losses' +*+" Leases (a) As!lessee (i) Right-of-use!assets Right-of-use!assets!are!depreciated!on!a!straight-line!basis!over!the!shorter!of!the!lease!term!and!the!estimated!useful! lives!of!the!assets!as!follows) - Leasehold!land)!leasehold!period!between!-"!years!to!,0/!years - Premises)!"!years!to!+#!years - Motor!vehicles)!/!years - Plant!and!machineries)!0!years - O2ce!equipment)!/!years (ii) Lease!liabilities In!calculating!the!present!value!of!lease!payments&!the!Group!and!the!Company!use!their!incremental!borrowing!rate!at! the!lease!commencement!date!because!the!interest!rate!implicit!in!the!lease!is!not!readily!determinable' (iii)! Short-term!leases!and!leases!of!low-value!assets The!Group!and!the!Company!apply!the!short-term!lease!recognition!exemption!to!its!short-term!leases!of!equipment! (i'e'&!those!leases!that!have!a!lease!term!of!$"!months!or!less!from!the!commencement!date!and!do!not!contain!a! purchase!option)'!It!also!applies!the!lease!of!low-value!assets!recognition!exemption!to!leases!of!o2ce!equipment!that! are!considered!to!be!low!value'!Lease!payments!on!short-term!leases!and!leases!of!low-value!assets!are!recognised!as! expense!on!a!straight-line!basis!over!the!lease!term' (b) As!lessor Leases!in!which!the!Group!and!the!Company!do!not!transfer!substantially!all!the!risks!and!benefits!of!ownership!of!an!asset!are! classified!as!operating!leases'!Initial!direct!costs!incurred!in!negotiating!an!operating!lease!are!added!to!the!carrying!amount!of! the!leased!asset!and!recognised!over!the!lease!term'!Lease!income!is!recognised!over!the!lease!term!on!a!straight-line!basis'! +*+# Borrowing!costs! Borrowing!costs!directly!attributable!to!the!acquisition!or!construction!of!an!inventory!property!that!necessarily!takes!a!substantial! period!of!time!to!get!ready!for!its!intended!use!or!sale!are!capitalised!as!part!of!the!cost!of!the!asset'! 203 FINANCIAL STATEMENTS & OTHER INFORMATION
RkJQdWJsaXNoZXIy NDgzMzc=