2. MATERIAL ACCOUNTING POLICY INFORMATION (CONT’D.) 2.28 Revenue (cont’d.) (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. 2.29 Segment reporting For management purposes, the Group is organised into operating segments based on their products and services which are independently managed by the respective segment managers responsible for the performance of the respective segments under their charge. The segment managers report directly to the management of the Company who regularly review the segment results in order to allocate resources to the segments and to assess the segment performance. Additional disclosures on each of these segments are disclosed in Note 42, including the factors used to identify the reportable segments and the measurement basis of segment information. 2.30 Contingencies A contingent liability or asset is a possible obligation or asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future event(s) not wholly within the control of the Group. Contingent liabilities and assets are not recognised in the statements of financial position of the Group. FINANCIAL STATEMENTS & OTHER INFORMATION 259
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