198 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 2. Summary of significant accounting policies (continued) 2.8 Revenue from other sources The Group and the Company recognise revenue from other sources as follows: (i) Chartering of FPSOs and OSVs Revenue from FPSO and OSV 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. 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. Dividend income from subsidiaries and joint ventures is recognised when the Company’s right to receive payment is established. (iii) Investment and interest income Interest income is recognised using the effective interest method. Interest income from financial assets at FVTPL is recognised as part of net gains or net losses on these financial instruments. Interest income on financial assets at amortised cost calculated using the effective interest method is recognised in profit or loss. (iv) Rental income Revenue from rental of investment properties are recognised as and when the services are rendered. Payment of the transaction is due immediately upon confirmation of reservation by customers. 2.9 Taxes (a) Current income tax Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Group operates and generates taxable income. Current income tax relating to items recognised directly in equity is recognised in equity and not in the profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.
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