$" MATERIAL#ACCOUNTING#POLICY#INFORMATION#(CONT’D") +*+. Revenue!(cont’d*) (c) Sale!of!goods Revenue!from!sale!of!goods!such!as!sale!of!completed!properties&!land!and!building!materials!is!measured!at!fair!value!of!the! consideration!receivable!and!is!recognised!upon!the!transfer!of!significant!control!of!the!goods!to!the!customer' (d) Recreation!and!resort!operations Revenue!from!recreational!club!operations!including!subscription!fees!but!excluding!club!membership!fees!are!recognised! when!the!services!are!rendered'!The!payment!of!the!transaction!price!is!due!immediately!upon!delivery!of!the!services'! Recreational!club!membership!fees!which!are!received!upfront!are!recognised!on!a!straight-line!basis!over!the!tenure!of!the! respective!memberships' (e) Rental!of!hotel!rooms Revenue!from!rental!of!hotel!rooms&!sale!of!food!and!beverages!and!other!related!income!are!recognised!upon!provision!of! the!services' (f) Dividend!income Dividend!income!is!recognised!when!the!right!to!receive!payment!is!established' (g) Interest!income Interest!income!is!recognised!by!using!the!EIR!method' (h) Rental!income Rental!income!is!accounted!for!on!a!straight-line!basis!over!the!lease!terms'!The!aggregate!costs!of!incentives!provided!to! lessees!are!recognised!as!a!reduction!of!rental!income!over!the!lease!term!on!a!straight-line!basis'! (i) Management!and!maintenance!fees Management!and!maintenance!fees!are!recognised!when!services!are!rendered' (j) Private!school!operations Tuition! fees! are! recognised! over! the! school! term! period&! whereas! enrolment&! registration&! resource! and! other! fees! are! recognised!as!revenue!when!no!significant!uncertainty!as!to!its!collectibility!exists' (k) Revenue!from!electricity Revenue!for!electricity!supply!activities!includes!an!assessment!of!electricity!supplied!to!customers!between!the!date!of!the! last!meter!reading!and!the!financial!year!end!of!the!Group!(unread!and!unbilled)'!Electricity!revenue!is!recognised!over!time! by!the!Group!when!electricity!is!consumed!by!customers' 207 FINANCIAL STATEMENTS & OTHER INFORMATION
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