35. Segment information (cont’d.) (a) Business segments (cont’d.) Beginning 1 January 2016 and following the Group’s focus on providing energy related maritime solutions and services, the Group changed the structure of the segments that the management uses to make decisions about operating matters, and the main measure used for the purpose of allocating resources and measuring performance. The operating segments of the Group are as follows:- (i) LNG - provision of liquefied natural gas (“LNG”) carrier services; (ii) Petroleum - provision of petroleum tanker and chemical tanker services; (iii) Offshore - operation and maintenance of oil and petrochemical products at storage terminals, operation and maintenance of offshore floating terminals; (iv) Heavy Engineering - marine repair, marine conversion and engineering and construction works; and (v) Others - management of operation of ports and marine terminals, provision of marine support services and consulting services relating to marine matters, integrated logistics (i.e. haulage, trucking and warehousing), marine education and training, and other diversified businesses. The segment information for the previous financial year has been restated to conform with these changes. Transfer prices between business segments are set on an arm’s length basis in a manner similar to transactions with third parties. Segment revenue, expenses and results include transfers between business segments. These transfers are eliminated on consolidation. Financial Statements 289
RkJQdWJsaXNoZXIy NDgzMzc=